U.S. President Trump reveals sweeping reciprocal duties on all U.S. trade partners; S. Korea facing 26% duty

As promised, U.S. President Donald Trump announced his reciprocal tariffs on America's trade partners that includes a baseline of 10-percent on all imports and country-specific duties with 26 percent for South Korea.

Lee Eun-hee has details.

The 26-percent reciprocal tariff imposition on South Korea has become official as U.S. President Donald Trump on Wednesday local time, signed an executive order imposing his sweeping reciprocal tariff plan.

According to the panel presented by President Trump, South Korea would face a 25-percent tariff.

However, an annex to the executive order later released by the White House listed South Korea's rate as 26-percent, with no clear explanation for the discrepancy.

"It's gonna be Liberation Day in America and it's gonna be a day that hopefully you're going to look back in years to come and you're gonna say, you know, he was right. This has turned out to be one of the most important days in the history of this country. God bless you and God Bless America."

Trump announced a baseline tariff of 10% on all imports, set to take effect on April 5th.

Higher rates will be imposed on select countries, which he labeled as the "worst offenders," and are scheduled to take effect on April 9th.

South Korea faces a 26-percent reciprocal tariff, higher than the EU's 20-percent and Japan's 24-percent.

Major U.S. trading partners will also be subject to steep tariff rates, including 34% on China, which will come in addition to existing 20-percent tariffs on Chinese imports, for a total 54-percent tariff rate.

In response, a number of countries have announced plans for retaliatory measures, signaling a global escalation in the current trade war.

The European Union says it will respond "through legal, legitimate, proportionate and decisive measures."

The Chinese commerce ministry urged the Trump administration to cancel the tariffs and said China would take countermeasures to safeguard its interests.

The Canadian prime minister said Canada will fight the decision with purpose and with force, while Italy's leader responded by calling the tariffs "wrong and not in the interest of either party."

The reciprocal tariffs do not apply to certain goods, including semiconductors, semiconductors, pharmaceuticals, energy, or "certain minerals that aren't found in the U.S."

However, according to a White House official, Trump is planning additional tariffs targeting semiconductors, pharmaceuticals, and potentially critical minerals.

Lee Eun-hee, Arirang News.