United States Announces Tariffs on Imports from 60 Nations

Why it matters locally: New Jersey's key industries, which include pharmaceuticals, chemicals, and food processing, may face increased costs for imported raw materials and components due to these tariffs, potentially impacting production and consumer prices.

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WASHINGTON – The United States will impose new taxes on imports from 60 countries, the administration announced Wednesday. These tariffs will range from 10% to 12.5%. These 60 nations collectively account for 99% of all U.S. imports. The administration states that these countries have not adequately enforced prohibitions against goods produced with forced labor. President Donald Trump spoke during an event in the Rose Garden at the White House on April 2, 2025, to announce the new tariffs.