Today is ‘Liberation Day’ – the day Donald Trump has pledged to rid the US of reliance on other countries for products in supplies, and arguably the pinnacle of his ongoing trade war.
But questions remain over what countries will be hit with tariffs – and which ones will be spared.
Trump told reporters yesterday he would begin the tariffs with ‘all countries’, and said there ‘isn’t a cutoff’.
National Economic Council Director Kevin Hassett has neglected to name the countries involved in today’s expected tariffs, but the Office of the U.S. Trade Representative provided more than a dozen nations they are ‘particularly interested’ in.
Metro has outlined each country mentioned by the US Trade Representative, and why they might be on the list for ‘Liberation Day’.
United Kingdom
Prime Minister Keir Starmer has admitted it is likely the UK won’t be spared from the tariffs.
Part of the reason Trump’s tariff threats are concerning figures in the British government so much is because of the uncertainty around them.
We already know a 25% tariff will be introduced on all cars being imported to the US, a move that will hammer the British automotive industry.
But there’s a conspicuous lack of detail on the broader round that has been promised. Speculation suggests Trump may choose to respond to the rate of VAT by imposing import taxes of 20% on the UK.
If that happens, business will suddenly get a lot more expensive for many British firms, and that will mean further price rises for customers.
Argentina
The US and Argentina have a bilateral trade market worth an estimated £10 to £12 billion in the last year alone.
Argentina is a large producer of lithium and energy, as well as grains – but they’ve also become a close trade partner with China, which could be why they’re listed by the US Trade Representative as a country of interest.
It’s worth noting Trump is close to President Javier Milei – Elon Musk even danced with Milei on stage with a chainsaw.
Australia
Australian trade with the United States reached an estimated £39 billion in 2024.
The folks down under might be in a bit of trouble if hit with Trump’s tariffs – but why?
The US is in a trade surplus with Australia, meaning they are exporting more goods to the Aussies than receiving in return, according to the ABC.
Canada
One of the reasons Canada is on the list is what Trump calls their ‘anti-American farmer tariff’ on dairy products.
Trump has also declared a ‘Fentanyl Crisis’ as a reason for his declaration of emergency on the Canadian border – later citing it as another reason for the tariffs.
China
Tariffs against China are being used to ‘stop migrants and drugs’ from reaching the US.
But China is one of the United States’ largest trading partners – with trade last year between the pair reaching £450.3 billion.
European Union
‘Let me be clear: Europe did not start this confrontation, we think it is wrong,’ European Union executive head Ursula von der Leyen said today.
‘But my message to you today is that we have everything we need to protect our people and our prosperity.’
One of the tariffs Trump issued was a 25% tariff on cars and vehicle parts in the European Union. An estimated 14 million people work in the auto industry in Europe, according to Reuters.
Trump’s reasoning? The EU is ‘ripping off’ the US.
India
US Commerce Secretary Howard Lutnick previously asked why India wouldn’t ‘buy even a single bushel of American corn’.
The US has tried for years to access India’s agricultural sector, but India has protected it.
Now, the US wants more experts from India to narrow the trade deficit – receiving more wheat, cotton, corn and maize from the nation.
Washington is likely considering tariffs against India to pressure them into giving more agricultural products to the USA.
Indonesia
Indonesia and the US have a trade market worth £29.6 billion each year – mainly consisting of Indonesian imports of palm oil, broadcasting equipment and electrical machinery.
It’s not known why Indonesia is a ‘country of interest’ – the country hasn’t specifically been cited by officials in recent months, except on the list of ‘interesting’ countries.
Japan
The auto industry is the main point of why Japan could face tariffs from America.
Trump has repeatedly touted how he wants ‘American-made’ products in the US, and the auto industry plays a large part in that reasoning.
But last year, the US exported only £61.8 billion to Japan, whereas Japan imported £114.4 of goods to the US.
Japan is America’s largest ally in Asia.
Korea
Yet again, the auto industry is the main point of why Korea could also face tariffs from America.
Last year, the US exported only £50.6 billion to Korea – but Korea sent £101.7 billion to the US in goods.
Malaysia
Malaysia is another US ally in Asia bracing for issues with US tariffs today.
Tariffs could affect Malaysia’s automobile industry, as well as metals, semiconductors, and pharmaceuticals – all major exports.
‘Malaysia is the third-largest Asian supplier of electrical goods to America, and any tariff shot here would ripple deep,’ SPI Asset Management managing partner Stephen Innes told the Business Times.
Mexico
Tariffs are likely being put on Mexico due to Trump’s issue with drug trafficking over the border.
Mexico is a major trade partner with the US. Last year, the US exported £258 billion worth of goods, whereas Mexico sent £391.1 billion.
Saudi Arabia
The trade between the US and Saudi Arabia totalled £20 billion last year.
It’s unclear why Saudi has been mentioned in tariff talks – but their largest exports are mainly oil-based.
It’s worth noting that in his inauguration speech, Trump promised to ‘drill, baby, drill’.
South Africa
The auto industry is a major source of revenue for South Africa and this could be why it was mentioned in the list of ‘interesting’ countries.
South Africa exports billions worth of automobile parts to the United States each year, and could suffer if they are placed under the 25% automobile import tariff suggested by Trump.
Taiwan
This morning, Taiwan President Lai Ching-te said the country is ‘indispensable’ in the global supply chain.
Taiwan has billions of pounds in trade surplus with the US, which is why it’s likely in America’s target of tariffs.
Thailand
Thailand exports large amounts of machines, rubber plastics and food to the United States.
But last year, Thailand’s trade surplus with the USA reached £34.7 last year – which is likely why they’re also a country facing tariffs.
Turkey
Turkey isn’t in a trade surplus with the US – but rather, the US has imported more goods from Turkey than it exported last year.
But Turkey might avoid some tariffs this round, considering President Recep Erdoğan and Trump have a somewhat close relationship.
Vietnam
Vietnam is ‘particularly’ vulnerable to Trump’s tariffs, the BBC reported.
Trump previously slammed the country as ‘vulnerable to China’ and ‘almost the single worst abuser of anybody’.
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