President Donald Trump's sweeping reciprocal tariffs announcement on Wednesday has several countries taking varied approaches in how to respond.

The Trump administration took that formula’s figure, -0.5 for South Korea, and divided it by two to calculate the U.S. “discounted reciprocal” tariff rate. So, while South Korea imposes an effective tariff rate of .79 percent on U.S. goods, the reciprocal tariff rate the U.S. is imposing on South Korea is 25 percent.

Per an Axios breakdown: "The formula is to divide the U.S. trade deficit with each country by that country's exports to the U.S. The final reciprocal tariff was then divided by 2, with a minimum of 10% (which applies even to those countries with which the U.S. has a trade surplus)."

U.S. stocks plummeted by market close on Friday as President Donald Trump’s sweeping tariffs continue to rattle markets across the

President Donald Trump’s promised tariffs are a day away – and they’ll go into effect sooner than some had expected. As in, immediately, the White House said Tuesday. Although many details remain unknown,

President Donald Trump is scheduled to announce significant tariffs on other countries in a speech Wednesday afternoon at the White House.

The White House has remained reticent regarding the specifics of the potential tariffs and the countries it plans to target. But these countries could be on the list.

It comes as the president recently announced a 25% tariff on imported vehicles and some auto parts among other tariffs.

Trump has already restored a 25% tariff on all aluminum and steel imports, tariffs on all Chinese imports, and a 10% tariff on Canadian energy imports. A tariff on all imported vehicles goes into effect Thursday.