Tariff Impacts: Five Countries Most Affected by New US Trade Measures
Over 100 countries face new tariffs, with China, Lesotho, the European Union, Switzerland, and Vietnam among the hardest hit.
The United States, the world's second-largest trading nation and the leading importer of goods, has announced a new set of tariffs that will affect more than 100 countries.
Effective Saturday, these tariffs will impose a baseline rate of 10 percent on all imports, with certain exceptions under an existing trade agreement, the United States-Mexico-Canada Agreement (CUSMA).
In addition to the baseline tariffs, reciprocal tariffs are set to be implemented on April 9, affecting approximately 60 countries labeled as 'worst offenders' by the US administration.
These nations are identified for maintaining their own tariffs on US goods or implementing trade barriers, including currency manipulation.
China has been designated as one of the most impacted countries, facing a tariff rate of 34 percent.
The US recorded a significant trade deficit with China in 2024, approximating $440 billion, as the country accounted for 17 percent of total US imports.
Major exports from China to the US include broadcasting equipment, computers, and office machine parts.
Lesotho, a small Southern African nation, is set to face the highest tariff rate of 50 percent, sharing this rate with French territories such as Saint Pierre and Miquelon.
In 2024, the value of goods exported to the US from Lesotho was approximately $237.3 million, while imports from the US amounted to only $2.8 million, indicating a notable trade imbalance.
The primary exports from Lesotho to the US consist of diamonds and women’s and men’s suits.
The European Union is also significantly affected, with a tariff rate of 20 percent applied to its exports.
The EU represents the largest bilateral trade relationship with the US, with daily trade valued at roughly €4.4 billion.
The US has reported a trade deficit with the EU of €157 billion, with exports mainly composed of medicinal products and motor vehicles.
Switzerland will face a tariff of 31 percent, primarily in response to the higher tariffs that Switzerland imposes on US goods.
In 2024, the US had a goods trade deficit with Switzerland valued at approximately $38.5 billion.
Swiss products commonly exported to the US include medical products and watches.
Finally, Vietnam is heavily impacted by the new tariffs with a rate of 46 percent.
Nearly 30 percent of Vietnam’s exports are directed to the US. The majority of US exports to Vietnam encounter lower tariffs, but consumer-focused food and agricultural products see higher rates, contributing to a trade deficit for the US with Vietnam of $124 billion in 2024.
The imposition of these tariffs reflects ongoing tensions in global trade dynamics, particularly affecting countries with complex trade relationships with the United States.
Effective Saturday, these tariffs will impose a baseline rate of 10 percent on all imports, with certain exceptions under an existing trade agreement, the United States-Mexico-Canada Agreement (CUSMA).
In addition to the baseline tariffs, reciprocal tariffs are set to be implemented on April 9, affecting approximately 60 countries labeled as 'worst offenders' by the US administration.
These nations are identified for maintaining their own tariffs on US goods or implementing trade barriers, including currency manipulation.
China has been designated as one of the most impacted countries, facing a tariff rate of 34 percent.
The US recorded a significant trade deficit with China in 2024, approximating $440 billion, as the country accounted for 17 percent of total US imports.
Major exports from China to the US include broadcasting equipment, computers, and office machine parts.
Lesotho, a small Southern African nation, is set to face the highest tariff rate of 50 percent, sharing this rate with French territories such as Saint Pierre and Miquelon.
In 2024, the value of goods exported to the US from Lesotho was approximately $237.3 million, while imports from the US amounted to only $2.8 million, indicating a notable trade imbalance.
The primary exports from Lesotho to the US consist of diamonds and women’s and men’s suits.
The European Union is also significantly affected, with a tariff rate of 20 percent applied to its exports.
The EU represents the largest bilateral trade relationship with the US, with daily trade valued at roughly €4.4 billion.
The US has reported a trade deficit with the EU of €157 billion, with exports mainly composed of medicinal products and motor vehicles.
Switzerland will face a tariff of 31 percent, primarily in response to the higher tariffs that Switzerland imposes on US goods.
In 2024, the US had a goods trade deficit with Switzerland valued at approximately $38.5 billion.
Swiss products commonly exported to the US include medical products and watches.
Finally, Vietnam is heavily impacted by the new tariffs with a rate of 46 percent.
Nearly 30 percent of Vietnam’s exports are directed to the US. The majority of US exports to Vietnam encounter lower tariffs, but consumer-focused food and agricultural products see higher rates, contributing to a trade deficit for the US with Vietnam of $124 billion in 2024.
The imposition of these tariffs reflects ongoing tensions in global trade dynamics, particularly affecting countries with complex trade relationships with the United States.
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