Federal election 2025 LIVE updates: Trump confirms 10 per cent tariffs on all Australian goods in ‘Liberation Day’ speech as PM refuses to rule out WTO action

Vietnam, Taiwan, Japan, India, Switzerland, Indonesia, Malaysia, Cambodia, South Africa, the United Kingdom Brazil, Bangladesh, Pakistan and Sri Lanka have all been listed by Trump.

The president is having fun with it, as his trade secretary Howard Lutnick stands beside him chuckling.

“The numbers are so disproportionate, they’re so unfair. At the same time we’ll establish a minimum baseline tariff of 10 per cent,” Trump said.

“You notice that on the chart that will be on other countries to help rebuild our economy and to prevent cheating.

“The people that do the checking, they are looking at jail sentences – we’re going to treat them so good, but if they cheat, the repercussions are going to be extremely strong.”