Yigit Taha OZTURK 
US President Trump has announced that the soon-to-be-introduced reciprocal tariffs will apply to “all countries,” dismissing expectations that only certain economies would be targeted.
Speaking to reporters on March 30, 2025, aboard Air Force One, Trump stated that the long-anticipated tariff measures set to be unveiled on April 2 would affect “all countries.”
All Countries Are Targeted!
Trump’s remarks contradict previous statements from his administration, which suggested that the new tariffs would be focused on 10 to 15 countries with the largest trade deficits with the US. However, Trump emphasized that the measures would be broader in scope.
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“You’d start with all countries,” Trump told reporters, making it clear that economies with trade imbalances with the US would be affected. The US administration has indicated that the tariffs will match the duties and trade barriers imposed by other nations on American exports.
New Tariffs and Their Impact on Global Markets
Last week, Trump announced a 25% tariff on all automobile imports, a move that has already strained relations with major allies such as Canada, the European Union, and Japan, all of which have strong automotive industries.
The announcement has sent shockwaves through global markets, leading to a sharp decline in Asian stock indexes on April 1, 2025:
- Japan‘s Nikkei 225 fell 3.85%,
- South Korea‘s KOSPI dropped 2.55%,
- Australia‘s ASX 200 declined 1.56%,
- Hong Kong‘s Hang Seng index was down 1.20%.
As investors sought safe-haven assets amid uncertainty, gold prices surged to a record high of $3,106.79 per ounce.
Trump acknowledged the potential economic impact of his trade policies and stated that he was “certainly open” to negotiating deals with individual countries after the April 2 announcement. However, markets remain uncertain about whether the tariffs will be a permanent measure or merely a bargaining tool.
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