The tariffs, set to take effect at midnight, will impact all foreign countries with a baseline 10% tariff, while some will face significantly higher rates.

Pakistan faces 29% tariff while some other countries including Bangladesh and Sri Lanka have been slapped with higher rates. However, Trump was kind to both India and Afghanistan.

Speaking from the White House Rose Garden, Trump explained that the tariffs are calculated by factoring in existing tariff rates and non-monetary barriers, such as currency manipulation.

Canada and Mexico remain subject to a 25% tariff, with exemptions for goods under the United States-Mexico-Canada Agreement (USMCA).

“The tariffs will not be fully reciprocal. I could have done that, I guess. But it would have been tough for a lot of countries,” Trump said.

Following are highlights of Trump’s remarks:

• “In many cases, the friend is worse than the foe in terms of trade,” Trump said.

• “We subsidize a lot of countries and keep them going and keep them in business,” Trump said about trade partners, specifically Mexico and Canada.

• “Why are we doing this? I mean, at what point do we say you got to work for yourselves.”

• “We are finally putting American first,” Trump said.

• “Trade deficits are no longer merely an economic problem. They are a national emergency,” Trump said.

• Trump held up a board showing the new rates charged on most countries. Rates ranged from 10% to 49% on the first board and up to 50% on later boards.

• With a few exceptions, based on the charts Trump read out, the tariff rate being imposed by the U.S. on most countries was around half of what those countries charged. There were some exceptions in which the U.S. charged the exact rates that those countries charged, according to the chart.

• “This is not full reciprocal, it is kind reciprocal,” Trump said.

South Asian countries facing tariffs

Pakistan – 29%

India – 26%

Bangladesh – 37%

Sri Lanka – 44%

Nepal – 10%

Bhutan – 10%

Maldives – 10%

Afghanistan – 10%

Global tariff rates

The highest tariffs are imposed on Lesotho (50%), Saint Pierre and Miquelon (50%), and Cambodia (49%), while European Union nations face a 20% tariff. Some of the other key rates include:

China – 34%

South Korea – 25%

Japan – 24%

European Union – 20%

United Kingdom – 10%

Brazil – 10%

Saudi Arabia – 10%

Turkey – 10%

The move is expected to heighten trade tensions worldwide, with affected countries likely to respond with countermeasures.

A full list of countries follows below:

Lesotho: 50 percent

Saint Pierre and Miquelon: 50 percent

Cambodia: 49 percent

Laos: 48 percent

Madagascar: 47 percent

Vietnam: 46 percent tariff

Myanmar: 44 percent

Sri Lanka: 44 percent

Falkland Islands: 41 percent

Syria: 41 percent

Mauritius: 40 percent

Iraq: 39 percent

Guyana: 38 percent

Botswana: 37 percent

Bangladesh: 37 percent

Réunion: 37 percent

Serbia: 37 percent

Liechtenstein: 37 percent

Thailand: 36 percent tariff

Bosnia and Herzegovina: 35 percent

China: 34 percent tariff

North Macedonia: 33 percent

Fiji: 32 percent

Taiwan: 32 percent tariff

Indonesia: 32 percent

Angola: 32 percent

Switzerland: 31 percent

Moldova: 31 percent

Libya: 31 percent

Algeria: 30 percent

Nauru: 30 percent

Norfolk Island: 29 percent

Pakistan: 29 percent

Tunisia: 28 percent

Kazakhstan: 27 percent

India: 26 percent tariff

South Korea: 25 percent tariff

Brunei: 24 percent

Japan: 24 percent tariff

Malaysia: 24 percent

Vanuatu: 22 percent

Ivory Coast: 21 percent

Namibia: 21 percent

European Union: 20 percent tariff

Jordan: 20 percent

Zimbabwe: 18 percent

Nicaragua: 18 percent

Israel: 17 percent

Philippines: 17 percent

Zambia: 17 percent

Malawi: 17 percent

Mozambique: 16 percent

Norway: 15 percent

Venezuela: 15 percent

Nigeria: 14 percent

Chad: 13 percent

Equatorial Guinea: 13 percent

Democratic Republic of the Congo: 11 percent

Cameroon: 11 percent

United Kingdom: 10 percent

South Africa: 10 percent

Brazil: 10 percent

Singapore: 10 percent

Chile: 10 percent

Australia: 10 percent

Turkey: 10 percent

Colombia: 10 percent

Peru: 10 percent

Costa Rica: 10 percent

Dominican Republic: 10 percent

United Arab Emirates: 10 percent

New Zealand: 10 percent

Argentina: 10 percent

Ecuador: 10 percent

Guatemala: 10 percent

Honduras: 10 percent

Egypt: 10 percent

Saudi Arabia: 10 percent

Ukraine: 10 percent

Bahrain: 10 percent

Qatar: 10 percent

El Salvador: 10 percent

Trinidad and Tobago: 10 percent

Morocco: 10 percent

Uruguay: 10 percent

Bahamas: 10 percent

Iceland: 10 percent

Kenya: 10 percent

Haiti: 10 percent

Bolivia: 10 percent

Panama: 10 percent

Ethiopia: 10 percent

Ghana: 10 percent

Jamaica: 10 percent

Paraguay: 10 percent

Lebanon: 10 percent

Tanzania: 10 percent

Georgia: 10 percent

Senegal: 10 percent

Azerbaijan: 10 percent

Uganda: 10 percent

Albania: 10 percent

Armenia: 10 percent

Nepal: 10 percent

Sint Maarten: 10 percent

Gabon: 10 percent

Kuwait: 10 percent

Togo: 10 percent

Suriname: 10 percent

Belize: 10 percent

Papua New Guinea: 10 percent

Liberia: 10 percent

British Virgin Islands: 10 percent

Afghanistan: 10 percent

Benin: 10 percent

Barbados: 10 percent

Monaco: 10 percent

Uzbekistan: 10 percent

Republic of the Congo: 10 percent

Djibouti: 10 percent

French Polynesia: 10 percent

Cayman Islands: 10 percent

Kosovo: 10 percent

Curaçao: 10 percent

Rwanda: 10 percent

Sierra Leone: 10 percent

Mongolia: 10 percent

San Marino: 10 percent

Antigua and Barbuda: 10 percent

Bermuda: 10 percent

Eswatini: 10 percent

Marshal Islands: 10 percent

Saint Kitts and Nevis: 10 percent

Turkmenistan: 10 percent

Grenada: 10 percent

Sudan: 10 percent

Turks and Caicos Islands: 10 percent

Aruba: 10 percent

Montenegro: 10 percent

Saint Helena: 10 percent

Kyrgyzstan: 10 percent

Yemen: 10 percent

Saint Vincent and the Grenadines: 10 percent

Niger: 10 percent

Saint Lucia: 10 percent

Iran: 10 percent

Samoa: 10 percent

Guinea: 10 percent

Timor-Leste: 10 percent

Montserrat: 10 percent

Mali: 10 percent

Maldives: 10 percent

Tajikistan: 10 percent

Cabo Verde: 10 percent

Burundi: 10 percent

Guadeloupe: 10 percent

Bhutan: 10 percent

Martinique: 10 percent

Tonga: 10 percent

Mauritania: 10 percent

Dominica: 10 percent

Micronesia: 10 percent

Gambia: 10 percent

French Guiana: 10 percent

Christmas Island: 10 percent

Andorra: 10 percent

Central African Republic: 10 percent

Solomon Islands: 10 percent

Mayotte: 10 percent

Anguilla: 10 percent

Cocos Islands: 10 percent

Eritrea: 10 percent

Cook Islands: 10 percent

South Sudan: 10 percent

Comoros: 10 percent

Kiribati: 10 percent

São Tomé and Príncipe: 10 percent

Gibraltar: 10 percent

Tuvalu: 10 percent

British Indian Ocean Territory: 10 percent

Tokelau: 10 percent

Guinea-Bissau: 10 percent

Svalbard and Jan Mayen: 10 percent

Heard and McDonald Islands: 10 percent