The world is beginning to react to the new tariffs announcement by Donald Trump.

We're hearing from Australian Prime Minister Anthony Albanese, who says the new US trade tariffs are "totally unwarranted" and will change the perception of the two countries' relationship.

Australia, a close ally of the US, received a new tariff of 10%.

"These tariffs are not unexpected, but let me be clear, they are totally unwarranted," Albanese says.

His foreign minister, Penny Wong, also says she doesn't underestimate the effect the new tariffs will have on the strategically important Asia-Pacific region.

She says Australia will respond with credibility and maturity.

As we've been reporting, the president has announced a raft of new tariffs - including a baseline tariff on all countries as well as additional tariffs of varying amounts for individual countries.

Below we've set out when these tariffs will begin:

• Today, 00:01 ET (05:01 BST) 25% tariff on all foreign-made automobiles
• April 5 12:01 (ET) (05:01 BST) baseline 10% tariff for all countries
• April 9 12:01 (ET) (05:01 BST) higher reciprocal rates

We've just heard from US President Donald Trump, who formally announced his plan to slap reciprocal tariffs on US trading partners around the world.

Here's a recap of what he had to say:

• Trump delivered a roughly 50-minute speech from the White House Rose Garden with his full cabinet in attendance as well as representatives of the US steel and auto industries
• He described today as "liberation day," and part of his plan to make America "wealthy again"
• His executive order represents "a declaration of economic independence", he said, in a reference to America's founding document announcing its plan to secede from Britain
• Starting tonight, the US will impose a 25% tariff on all foreign-made automobiles, he announced
• He singled out several countries, saying that they were "cheating" by forcing Americans to pay high tariffs
• He said Australia refuses to buy American beef, the EU rejects American poultry, and Asian countries "don't want us to sell our rice there"
• A baseline tariff of 10% will be applied to every country starting on 5 April, including the UK, Trump declared
• On 9 April, higher tariffs will begin to be imposed on certain countries, he said
• He pledged that history will prove him correct, and that in the future Americans will look back and realise that he was right

In the last hour, the US has announced a range of new global tariffs which will come into effect one different dates over the next week.

Steel and auto workers were among those attending the speech at the Rose Garden - some of whom were kitted out in hard hats and high-vis uniforms.

In the images below you can see some of those workers sitting in the crowd with cabinet ministers and senators.

Image source, EPA

Image source, Reuters

Image source, Reuters

Image source, Reuters

European nations, including the 27 members states of the European Union, feature heavily in Trump's announcement.

The EU has drawn the ire of the president, who has previously said he believes the bloc was created to "screw the United States".

Here's a breakdown of some of the countries listed in Trump's chart:

• European Union - 20%
• Kosovo - 10%
• Switzerland - 31%
• United Kingdom - 10%
• Norway - 15%
• Ukraine - 10%
• Liechtenstein - 37%
• Serbia - 37%

The White House's official rapid response team has published the full list of countries, external on its social media channels.

Let's have a closer look at the tariffs just announced by Trump. We'll break them down by region, starting with Asian countries ranging from Singapore's relatively low 10%, all the way up to 48% on Laos.

Here's a looks at some of the countries in Asia that appeared on his chart, alongside their new US tariff rates:

• China - 34%
• Vietnam - 46%
• Taiwan - 32%
• Japan - 24%
• India - 26%
• South Korea - 25%
• Thailand - 36%
• Malaysia - 24%
• Cambodia - 49%
• Bangladesh - 37%
• Singapore - 10%
• Philippines - 17%
• Pakistan - 29%
• Sri Lanka - 44%
• Myanmar - 44%
• Laos - 48%

Bernd Debusmann Jr
Reporting from the White House

Image source, Bernd Debusmann Jr/BBC

I'm now back in the White House, where large printed versions of the tariffs charts are now sitting on either side of the podium where Press Secretary Karoline Leavitt speaks to the press from.

Many reporters did not get accredited or approved for the Rose Garden event, which was held in a relatively tight space.

Those who didn't listened from the press area of the White House. Many of them are now running outside quickly to do their TV lives.

Today is one of the most crowded I've seen the White House, at least as far as reporters go - right up alongside Volodomyr Zelensky's visit earlier this year.

Tariffs will hurt, but UK's 10% could have been worsepublished at 22:07 British Summer Time 2 April

22:07 BST 2 April

Chris Mason
Political editor

"It is lower than it could have been," a senior government source tells me.

The tone was still sombre - a 10% tariff is big and they’d rather not have them at all - it is considerably less than some others and less than some thought it would be.

Ministers hope this announcement is a reasonable basis for carrying on with negotiations over a trade deal that could lead to them falling or being dropped entirely.

They hope too tonight’s news is a vindication of their approach so far to the Trump administration.

But make no mistake - and those in government are keenly aware of this - these tariffs will hurt, both directly and indirectly, as the patchwork of new taxes upends global trade flows in the weeks, months and years to come.

Image source, Reuters

Trump ends his long-awaited tariff announcement, Liberation Day, as he's called it, slow-strolling past a row of American flags and shouts from reporters.

The main question heard from the crowd of reporters is what happens if other countries retaliate, sparking a trade war that economists warn no one will win.

The unanswered question will linger in the days to come as world leaders calculate their responses.

"We're going to have a very free and beautiful nation. It's going to be Liberation Day in America," Trump said, as he began to wrap up his speech.

"And it's going to be a day that you're hopefully going to look back on in years to come. And you're going to say: 'You know, he was right. This has turned out to be one of the most important days in the history of our country.'"

Trump also boasted about his administration's accomplishments as he approaches 100 days in office this term.

He mentioned some of his goals, including ending and preventing conflict around the world.

"[I'd] like to see if we can get that war ended [in Ukraine], and another war from not starting in the Middle East," he said.

Image source, Reuters

Trump has concluded his speech and is now sitting at a desk to sign the relevant executive orders.

He holds them up as he does so and is met with applause.

We'll bring you the final remarks from his speech shortly.

Trump has taken a quick break from tariff-talk to pivot to other domestic issues, beginning with immigration.

He asks Kristi Noem, the Department of Homeland Security head, to stand for applause along with his appointed "border czar" Tom Homan.

"Now we have a border that's the best border that we've ever had," Trump says.

Trump says the US wants immigrants that "come in legally", adding that "we need more people" to fill the jobs he expects to create.

"We need people to run these plants and to help the auto workers and the Teamsters and the non-union people and everybody else," he says.

"They have to have the capability of loving our country, not people that hate our country."

"Every Republican congressman and senator must unify," in order to pass a budget that Trump can support, he says.

"From this day on we're not gonna let anyone tell American workers and families that they cannot have the future that they deserve."

He says that America's future will be built with "American hands, with American hearts, and American Steel".

Now we wait for the world to respondpublished at 21:54 British Summer Time 2 April

21:54 BST 2 April

Faisal Islam
Economics editor

At its heart this is a universal tariff of 10% on all imports into the US for everyone, coming in on Friday night. On top of that, dozens of “worst offenders” will be charged reciprocally for their trade surpluses, tariffs and host of other barriers from VAT to food standards.

There is a provision to hit back even harder if other countries retaliate, “because the emergency would be bigger”.

As one White House official said bluntly “this is not a negotiation, it’s a national emergency”. It is, they said, about the “regulation of imports”. The focus the advisers said should not be on the tariffs but on the other barriers to US exports.

The aim of the policy is to get the trade deficits “back to zero”.

The question now is how the rest of the world responds.

More on that large chart Trump was holding up earlier. It contains some numbers and detail worth examining.

On the left-hand column is a list of countries, next to a column titled "Tariffs Charged to the USA Including Currency Manipulation and Trade Barriers".

On the far right is another column titled "USA Discounted Reciprocal Tariffs", which shows a list of the new tariffs announced today.

Here's a printed copy of the first half of the chart handed out to reporters in the Rose Garden:

Bernd Debusmann Jr
Reporting from the White House

Image source, Reuters

As with many Trump events, this one comes with props - in this case a chart brought out by Secretary of Commerce Howard Lutnick.

But besides the specifics of the tariffs, there has been little new material to Trump's comments today.

His speech reminds me of those I heard - repeatedly - on the campaign trail last year, as well as here in the White House during his administration so far.

Some of his comments, for example, have focused on the previous administration of Joe Biden, whom he has repeatedly blamed for the state of the US economy.

For his supporters, today will likely be pointed to as an example of what the Trump team has termed "promises made, promises kept" and Trump's vows to "put Americans first".

Trump says that during his first term, he had been making plans to institute reciprocal tariffs.

But he notes that after a "bad election" in 2020, in which he lost to Joe Biden, he had a "monumental win" last November.

"This will be an entirely different country in a short period of time. The whole world will be talking about it," he says.

He goes on to discuss the high prices of eggs, and claims that the steep rise is not his fault.

"I just got here," he remembers saying shortly after taking office.

Trump says he has great respect for China and President Xi but they've been "taking tremendous advantage" of the US.

Other leaders take care of their countries, implementing large tariffs on US imports, Trump says, adding that the US is going to do the same.

"We have to start taking care of our country now," he says.

As he paints his picture of a renewed American economy boosted by broad tariffs, he says "empty, dead" manufacturing plants and "factories falling down" will be replaced by new ones.

"Brand new, the best anywhere in the world."

Trump now lists a number of companies he says are investing money in the US. He includes Apple which he says has committed to spending $500bn, and he also cites Nvidia, Johnson and Johnson and Meta.

The president says it represents a total of $6 trillion of investments.

"That's going to be much higher by the end of the year."