PANews reported on April 3rd that according to Cailian News, on Wednesday Eastern Time (April 2nd), US President Trump signed two executive orders on so-called "reciprocal tariffs" at the White House, announcing a 10% "minimum baseline tariff" for all trade partners and higher tariffs on multiple trade partners. Trump stated that the US would impose reciprocal tariffs on dozens of trade partners, though the tariffs would not be completely equal, with the US collecting approximately half of the comprehensive tax rate from these countries and regions. Trump displayed a poster listing reciprocal tariffs. The chart showed reciprocal tariffs of 34% on China, 20% on the EU, 10% on Brazil and the UK, 31% on Switzerland, 26% on India, 25% on South Korea, 24% on Japan, 32% on Indonesia, 36% on Thailand, 46% on Vietnam, and 49% on Cambodia.

White House senior officials stated that the baseline tariff rate (10%) would take effect at 00:00 on April 5th, with reciprocal tariffs to be implemented at 00:00 on April 9th. Tariff exemptions under the USMCA would continue, with tariffs remaining at 25% for goods not meeting USMCA requirements. Previously, multiple trade partners had indicated they would take retaliatory measures. European Commission President von der Leyen stated that the EU "holds many cards" in response to the new tariffs from the Trump administration and has developed a strong counterplan to be implemented if necessary. Canadian Prime Minister Carney said that if Trump fulfills his "reciprocal tariffs" promise, Canada plans to impose retaliatory tariffs on US goods this week. Carney warned that the relationship between Canada and the US has fundamentally changed, and Canada has "multiple measures to respond".