Trump's New Tariffs Exclude Russia, North Korea, Mexico, Canada

President Donald Trump announced sweeping global tariffs during a press conference labeled 'Liberation Day,' introducing a minimum base tariff of 10% on imports from nearly all countries, alongside individual tariffs for about 60 nations. Notably, countries under U.S. sanctions, including Russia and North Korea, were excluded from these tariffs, as their trade with the U.S. is already heavily restricted. The tariffs, which also include a 25% duty on foreign automobiles, are set to take effect starting April 3 for auto parts and April 9 for other imports. The announcement has sparked concerns about economic repercussions, with stock markets reacting negatively and gold prices rising significantly. Critics have pointed out the misleading categorization of certain taxes as tariffs and questioned the overall economic strategy. White House officials defended the omissions, suggesting that existing sanctions rendered trade with Russia effectively non-existent.