Photo: Mark Schiefelbein/Associated Press

President Trump said the U.S. will impose a 10% tariff on all imports and unveiled much higher rates for some nations, in a series of moves he declared “Liberation Day” for U.S. trade policy.

He said that the U.S. was going to be “charging a discounted reciprocal tariff” on some nations including major trade partners. For China, the U.S. is levying a 34% tariff, and for the European Union “we’re going to charge them 20%,” Trump said. The tariff will be 46% for Vietnam and 24% for Japan.

U.S. stock futures declined in postclose trading, reflecting fears that the tariffs will slow growth, boost inflation and further rattle global markets when they reopen Thursday. Popular stocks such as Apple, Amazon and Nike were among the largest retreaters.

Trump spoke at the Rose Garden. The president opened his remarks by saying that his new tariff policies would would “make America wealthy again.”

Tariffs have triggered unease and confusion across the business world, with some saying the uncertainty is as tough to deal with as the added duties.

Stock futures’ decline reversed modest moves higher earlier in the day.