US President Donald Trump is set to announce a new wave of sweeping tariffs today, branding them as “Liberation Day” measures aimed at protecting American industries. However, uncertainty looms over the extent of the tariffs, which could trigger a global trade war.
The announcement will take place at 4:00 p.m. (2000 GMT) in the White House Rose Garden, with Trump flanked by key cabinet members. He has promised that the tariffs will end what he calls America being “ripped off” by foreign competitors and usher in a “golden age” for U.S. manufacturing.
Despite Trump’s confidence, the White House admitted late Tuesday that final details were still being ironed out, leaving the global markets on edge. The tariffs are expected to take effect immediately, with no room for negotiation.
The move is expected to deepen tensions between the United States and its trading partners, including key allies such as the European Union, Canada, and the United Kingdom. Many nations have already warned of potential retaliatory measures.
Canadian Prime Minister Mark Carney vowed to “fight for Canada” in response to the tariffs, while EU officials reiterated that “all instruments are on the table” should the U.S. proceed with its plans. The UK, meanwhile, is pushing for negotiations to avoid a trade conflict, and Vietnam has preemptively slashed duties on certain goods in hopes of easing tensions.
Trump, who has long championed tariffs as a solution to America’s trade deficits, has suggested that the new measures will match or exceed foreign tariffs imposed on U.S. goods. Reports indicate that he considered blanket 20% tariffs before opting for a more selective approach, possibly offering exemptions to some nations.
His administration has already imposed a 25% tariff on imported automobiles, set to take effect on April 3, along with a 25% tariff on steel and aluminum imports. China, which was hit with additional 20% tariffs in March, has responded with retaliatory duties, further escalating trade tensions.
While Trump insists the tariffs will revive American manufacturing, critics warn that they could lead to higher consumer prices and economic instability. With global markets already jittery, the world now waits to see just how far Trump’s “Liberation Day” policies will go.
