There were three major countries that Donald Trump didn’t mention on his “Liberation Day” tariffs list, and there’s a particular reason for that.
On April 2, the former President took to the White House Rose Garden to unveil the most dramatic shift in U.S. trade policy since 1947.
His new tariffs — a sweeping overhaul targeting countries “large and small” — are already being blamed for a fresh wave of financial chaos, per BBC News.
Markets tanked in the aftermath. The FTSE 100 in London fell 26.32 points, closing at 8,608.48. Asian markets also plunged by Thursday morning. Housebuilders were among the hardest hit.
Trump proudly held up a placard showing a list of countries slapped with tariffs, with eye-popping figures like a 49% tariff on Cambodia and 46% on Vietnam. Even close allies weren’t spared: the EU got hit with a 20% charge, Japan 24%, and South Korea 25%.
European Commission President Ursula von der Leyen called the move a “major blow to the world economy,” adding: “The consequences will be dire for millions of people around the globe.”
She warned that essential goods like groceries, transport, and medicines will become more expensive — “and this is hurting, in particular, the most vulnerable citizens,” per the Standard.
Trump’s fiery rhetoric pulled no punches. He claimed countries had been “looting, pillaging, raping and plundering” the U.S. and promised the tariffs would bring jobs “roaring” back.
“April 2, 2025 will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to make America wealthy again,” he declared.
But while the list of sanctioned countries seemed endless — and even included remote, uninhabited regions — three notable powerhouses were absent: Russia, Canada, and Mexico.
According to U.S. Treasury Secretary Scott Bessent, there’s a straightforward explanation for at least one of them. “Well,
As for Canada and Mexico, they’re already under tariff pressure thanks to existing agreements.
Canada is already hit with a 25% tariff for goods not compliant with CUSMA (the Canada-US-Mexico Agreement), and a 10% tariff on non-compliant energy and potash.
On top of that, Trump’s newly declared 25% tariff on all foreign cars also affects Canadian-made vehicles, along with continuing levies on steel and aluminium.
Trump hasn’t shied away from slamming Canada either, claiming that both Canada and Mexico aren’t doing enough to stop illegal drug trafficking and migration into the U.S.
Mexico finds itself in the same tariff twilight zone. As part of CUSMA — the revamped version of NAFTA that Trump himself introduced — Mexico won’t face the sweeping new tariffs. At least not yet.
The full list of tariffs:
- China: 34% (Rising to 54% with other tariffs)
- European Union: 20%
- Vietnam: 46%
- Taiwan: 32%
- Japan: 24%
- India: 26%
- South Korea: 25%
- Thailand: 36%
- Switzerland: 31%
- Indonesia: 32%
- Malaysia: 24%
- Cambodia: 49%
- United Kingdom: 10%
- South Africa: 30%
- Brazil: 10%
- Bangladesh: 37%
- Singapore: 10%
- Israel: 17%
- Philippines: 17%
- Chile: 10%
- Australia: 10%
- Pakistan: 29%
- Turkey: 10%
- Sri Lanka: 44%
- Colombia: 10%
- Peru: 10%
- Nicaragua: 18%
- Norway: 15%
- Costa Rica: 10%
- Jordan: 20%
- Dominican Republic: 10%
- United Arab Emirates: 10%
- New Zealand: 10%
- Argentina: 10%
- Ecuador: 10%
- Guatemala: 10%
- Honduras: 10%
- Madagascar: 47%
- Myanmar: 44%
- Tunisia: 28%
- Kazakhstan: 27%
- Serbia: 37%
- Egypt: 10%
- Saudi Arabia: 10%
- El Salvador: 10%
- Côte d’Ivoire: 21%
- Laos: 48%
- Botswana: 37%
- Trinidad and Tobago: 10%
- Morocco: 10%
- Algeria: 30%
- Oman: 10%
- Uruguay: 10%
- Bahamas: 10%
- Lesotho: 50%
- Ukraine: 10%
- Bahrain: 10%
- Qatar: 10%
- Mauritius: 40%
- Fiji: 32%
- Iceland: 10%
- Kenya: 10%
- Liechtenstein: 37%
- Guyana: 38%
- Haiti: 10%
- Bosnia and Herzegovina: 35%
- Nigeria: 14%
- Namibia: 21%
- Brunei: 24%
- Bolivia: 10%
- Panama: 10%
- Venezuela: 15%
- North Macedonia: 33%
- Ethiopia: 10%
- Ghana: 10%
- Moldova: 31%
- Angola: 32%
- Democratic Republic of the Congo: 11%
- Jamaica: 10%
- Mozambique: 16%
- Paraguay: 10%
- Zambia: 17%
- Lebanon: 10%
- Tanzania: 10%
- Iraq: 39%
- Georgia: 10%
- Senegal: 10%
- Azerbaijan: 10%
- Cameroon: 11%
- Uganda: 10%
- Albania: 10%
- Armenia: 10%
- Nepal: 10%
- Sint Maarten: 10%
- Falkland Islands: 41%
- Gabon: 10%
- Kuwait: 10%
- Togo: 10%
- Suriname: 10%
- Belize: 10%
- Papua New Guinea: 10%
- Malawi: 17%
- Liberia: 10%
- British Virgin Islands: 10%
- Afghanistan: 10%
- Zimbabwe: 18%
- Benin: 10%
- Barbados: 10%
- Monaco: 10%
- Syria: 41%
- Uzbekistan: 10%
- Republic of the Congo: 10%
- Djibouti: 10%
- French Polynesia: 10%
- Cayman Islands: 10%
- Kosovo: 10%
- Curaçao: 10%
- Vanuatu: 22%
- Rwanda: 10%
- Sierra Leone: 10%
- Mongolia: 10%
- San Marino: 10%
- Antigua and Barbuda: 10%
- Bermuda: 10%
- Eswatini: 10%
- Marshall Islands: 10%
- Saint Pierre and Miquelon: 50%
- Saint Kitts and Nevis: 10%
- Turkmenistan: 10%
- Grenada: 10%
- Sudan: 10%
- Turks and Caicos Islands: 10%
- Aruba: 10%
- Montenegro: 10%
- Saint Helena: 10%
- Kyrgyzstan: 10%
- Yemen: 10%
- Saint Vincent and the Grenadines: 10%
- Niger: 10%
- Saint Lucia: 10%
- Nauru: 30%
- Equatorial Guinea: 13%
- Iran: 10%
- Libya: 31%
- Samoa: 10%
- Guinea: 10%
- Timor-Leste: 10%
- Montserrat: 10%
- Chad: 13%
- Mali: 10%
- Maldives: 10%
- Tajikistan: 10%
- Cabo Verde: 10%
- Burundi: 10%
- Guadeloupe: 10%
- Bhutan: 10%
- Martinique: 10%
- Tonga: 10%
- Mauritania: 10%
- Dominica: 10%
- Micronesia: 10%
- Gambia: 10%
- French Guiana: 10%
- Christmas Island: 10%
- Andorra: 10%
- Central African Republic: 10%
- Solomon Islands: 10%
- Mayotte: 10%
- Anguilla: 10%
- Cocos (Keeling) Islands: 10%
- Eritrea: 10%
- Cook Islands: 10%
- South Sudan: 10%
- Comoros: 10%
- Kiribati: 10%
- São Tomé and Príncipe: 10%
- Norfolk Island: 29%
- Gibraltar: 10%
- Tuvalu: 10%
- British Indian Ocean Territory: 10%
- Tokelau: 10%
- Guinea-Bissau: 10%
- Svalbard and Jan Mayen: 10%
- Heard and McDonald Islands: 10% (these are uninhabited, by the way)
- Réunion: 37%
