Monaco Subject to New 10% U.S. Tariffs Amid Broader Trade Policy Changes
The principality of Monaco faces a universal 10% import tariff as part of U.S. customs policy changes effective April 5, 2025.
On April 5, 2025, Monaco became subject to a new 10% universal import tariff imposed by the United States, part of a broader trade policy initiative announced by President Donald Trump.
This policy, characterized as a response to perceived imbalances in global trade, marks a significant shift in U.S. customs regulations affecting 185 countries and territories.
The new tariffs are part of what Trump described as a 'reciprocal' trade policy initiative aimed at achieving economic independence for the United States.
The 10% tariff applies uniformly to all nations on the list but contrasts with substantially higher tariffs imposed on European Union member states and other nations categorized as 'hostile' to U.S. interests.
Specifically, products imported from the EU are subject to a 20% tariff, while certain Asian nations, including China, Vietnam, and Cambodia, face even steeper tariffs, with China seeing increases up to 34% and Vietnam and Cambodia facing tariffs of 46% and 49%, respectively.
In the U.S. administration, tariffs were introduced to address what President Trump described as a lack of reciprocity in international trade practices, citing disparate tariff rates and non-tariff barriers that disadvantage American goods.
Notably, the European Union has been mentioned as imposing tariff rates averaging 39% on American imports.
Simultaneously, U.S. Treasury Secretary Scott Bessent noted the importance of ongoing discussions and potential negotiations with nations facing higher tariffs, highlighting the administration's view that longstanding trade practices warrant reevaluation.
Certain nations, including Russia, Belarus, Cuba, and North Korea, are excluded from the new tariff structure due to existing sanctions that limit trade with the U.S. Additionally, neighboring countries Canada and Mexico do not appear on the list, benefiting instead from existing trade agreements that govern their import tariffs.
The tariff changes were phased in, with the 10% tariff effective on April 5 and additional tariffs for countries facing increased rates instituted on April 9, 2025, at 6:01 a.m. local time in France.
Trump's administration maintains that these tariff policies reflect a strategic move aimed at rectifying trade imbalances and fostering a more favorable environment for American businesses.
The response from affected nations, particularly within the EU, indicates a readiness to engage in what some have termed a 'trade war' as they prepare counter-measures, potentially targeting American digital services.
Following the initial implementation of the tariffs, Trump announced a temporary suspension for a portion of the reciprocal tariffs for 90 days, which may influence negotiations with impacted countries while maintaining the baseline 10% level for Monaco and others.
This policy, characterized as a response to perceived imbalances in global trade, marks a significant shift in U.S. customs regulations affecting 185 countries and territories.
The new tariffs are part of what Trump described as a 'reciprocal' trade policy initiative aimed at achieving economic independence for the United States.
The 10% tariff applies uniformly to all nations on the list but contrasts with substantially higher tariffs imposed on European Union member states and other nations categorized as 'hostile' to U.S. interests.
Specifically, products imported from the EU are subject to a 20% tariff, while certain Asian nations, including China, Vietnam, and Cambodia, face even steeper tariffs, with China seeing increases up to 34% and Vietnam and Cambodia facing tariffs of 46% and 49%, respectively.
In the U.S. administration, tariffs were introduced to address what President Trump described as a lack of reciprocity in international trade practices, citing disparate tariff rates and non-tariff barriers that disadvantage American goods.
Notably, the European Union has been mentioned as imposing tariff rates averaging 39% on American imports.
Simultaneously, U.S. Treasury Secretary Scott Bessent noted the importance of ongoing discussions and potential negotiations with nations facing higher tariffs, highlighting the administration's view that longstanding trade practices warrant reevaluation.
Certain nations, including Russia, Belarus, Cuba, and North Korea, are excluded from the new tariff structure due to existing sanctions that limit trade with the U.S. Additionally, neighboring countries Canada and Mexico do not appear on the list, benefiting instead from existing trade agreements that govern their import tariffs.
The tariff changes were phased in, with the 10% tariff effective on April 5 and additional tariffs for countries facing increased rates instituted on April 9, 2025, at 6:01 a.m. local time in France.
Trump's administration maintains that these tariff policies reflect a strategic move aimed at rectifying trade imbalances and fostering a more favorable environment for American businesses.
The response from affected nations, particularly within the EU, indicates a readiness to engage in what some have termed a 'trade war' as they prepare counter-measures, potentially targeting American digital services.
Following the initial implementation of the tariffs, Trump announced a temporary suspension for a portion of the reciprocal tariffs for 90 days, which may influence negotiations with impacted countries while maintaining the baseline 10% level for Monaco and others.
