US President Donald Trump has announced new reciprocal tariffs, matching duties imposed on American goods by other nations. The move intensifies the ongoing trade war, which he reignited upon his return to the White House.

Speaking at an event in the White House Rose Garden on Wednesday, Trump unveiled a poster detailing the new tariffs, including a 37% duty on Bangladesh, 26% on India, 34% on China, and 20% on the European Union, Reuters reported.

Additionally, Trump declared a 10% baseline tariff on all imports, with even steeper rates for major US trading partners. The sweeping tariffs mark a reversal of decades of trade liberalization and are expected to trigger retaliatory measures, potentially driving up consumer prices on goods ranging from bicycles to wine.

"It's our declaration of independence," Trump said during the announcement.

According to the displayed tariff list, other Asian nations will also face significant duties: Pakistan (29%), Myanmar (44%), Vietnam (46%), Taiwan (32%), and Cambodia (49%).

BDST: 0936 HRS, APR 03, 2025
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