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US President Donald Trump is gearing up for what he calls “Liberation Day,” a significant event in his long-standing trade war. According to a report by The Washington Post, Trump plans to announce a major tariff hike on April 2—a move he believes will reshape the American economy. Despite recommendations from his advisors to adopt a more diplomatic approach, Trump remains steadfast, arguing that tariffs are key to restoring America’s economic strength.
Massive Liberation Day Tariffs Poised to Reshape Global Trade
The upcoming tariff plan is expected to target trade worth trillions of dollars, significantly impacting the global economy. Treasury Secretary Scott Bessent confirmed that the tariffs will apply to products from 15% of the countries the administration considers the worst U.S. trading partners. These nations collectively account for nearly 90% of American imports. In addition, tariffs will also be levied on specific industries across all nations with which the U.S. has trade relations, according to The Washington Post.
Recent measures taken by the Trump administration include a 25% tariff on all automobile imports. Similar restrictions are reportedly being considered for the pharmaceutical and lumber industries.
Liberation Day: A Push for Universal Tariffs?
Trump has also hinted at the possibility of implementing a universal tariff on most imports, regardless of their origin. Commerce Secretary Wilbur Ross, during Trump’s first term, stated, “There’s still a lot of options on the table. They are considering everything and trying very hard to make the idea of a reciprocal tariff both understandable to the American public and effective.”
The president has been vocal about his stance on tariffs, once calling them “the most beautiful” word in the dictionary. He has also linked them to what he describes as America’s economic peak in the 19th century. Reinforcing his commitment, Trump took to his social media platform, Truth Social, writing, “LIBERATION DAY IN AMERICA IS COMING SOON. FOR YEARS, WE HAVE BEEN RIPPED OFF BY VIRTUALLY EVERY COUNTRY IN THE WORLD, BOTH FRIEND AND FOE. BUT THOSE DAYS ARE OVER.”
A History of Tariffs Under Trump
In the months leading up to “Liberation Day,” Trump has already imposed a series of tariffs on key trading partners and industries. In February, he announced a 25% tariff on imports from Canada and Mexico, tying the move to his immigration policy. Shortly after, a 20% tariff was placed on Chinese goods, citing Beijing’s role in the global fentanyl trade.
By mid-March, tariffs on steel and aluminum imports were enacted, further intensifying trade tensions. The next major step comes on April 3, when automobiles will be subjected to a 25% tariff.
Also Read: What Are Trump’s ‘Liberation Day’ Tariffs Sparking Economic Concerns Worldwide?
