WATCH THE VIDEO HERE In a sweeping move that could redefine global commerce, U.S. President Donald Trump has announced a baseline 10% tariff on all U.S. imports, alongside sharper, country-specific reciprocal tariffs aimed at nations that impose steeper duties on American goods. The announcement, made during a Rose Garden event tagged “Liberation Day,” marks a dramatic shift from decades of free-trade orthodoxy that has underpinned the global economy since World War II. Trump declared the start of what he called a new era of “fair trade,” promising to “supercharge America’s industrial base” and force open foreign markets long accused of shutting out U.S. goods. “This is one of the most important days in American history,” Trump said. “We will supercharge our domestic industrial base, we will pry open foreign markets and break down foreign trade barriers.” The new tariffs, which take immediate effect, apply to more than 50 countries. They include major trade partners like China, the European Union, India, and Japan, as well as developing economies in Asia, Africa, and Latin America. The global stock markets initially responded positively, buoyed by relief that the levies were set at 10% and not the 20% rate previously feared. However, Nigeria was absent from the list of countries targeted by Donald Trump At the heart of Trump’s new trade doctrine is a concept his administration calls “reciprocal tariffs.” Under this framework, the U.S. imposes duties on imports equivalent to half the tariff rates those countries apply to American exports. A chart displayed during the “Make America Wealthy Again” event listed countries deemed to be the worst offenders. These include Vietnam, Cambodia, and Bangladesh, all of which levy tariffs above 70% on U.S. goods. Under the new plan, U.S. import tariffs on their goods will now range between 37% and 49%. For example: The policy doesn’t spare large economies. China, long the focal point of Trump’s trade ire, is alleged to impose a 67% tariff on U.S. products. It now faces a 34% reciprocal tariff. The European Union, which the administration says imposes a 39% tariff, will now see U.S. tariffs rise to 20%. Other countries affected include: The administration insists these measures are not about punishing allies but about “restoring fairness” to a global system where, it claims, the U.S. has long been shortchanged. Though Nigeria is not among the countries directly listed in the initial White House document, the new policy represents a broader shift in how the U.S. engages with emerging and developing markets.