{"id":132175,"date":"2025-04-02T09:58:47","date_gmt":"2025-04-02T09:58:47","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/trump-set-to-announce-new-round-of-tariffs-on-his-so-called-liberation-day-the-guardian\/"},"modified":"2025-04-02T09:58:47","modified_gmt":"2025-04-02T09:58:47","slug":"trump-set-to-announce-new-round-of-tariffs-on-his-so-called-liberation-day-the-guardian","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/trump-set-to-announce-new-round-of-tariffs-on-his-so-called-liberation-day-the-guardian\/","title":{"rendered":"Trump set to announce new round of tariffs on his so-called \u2018liberation day\u2019 – The Guardian"},"content":{"rendered":"

President\u2019s plans have rattled global stock markets and triggered heated rows with US\u2019s largest trading partners
Donald Trump will announce his latest round of tariffs at the White House on Wednesday, threatening to unleash a global trade war on what he has dubbed \u201cliberation day\u201d.
Trump has rattled global stock markets, alarmed corporate executives and economists, and triggered heated rows with the US\u2019s largest trading partners by announcing and delaying plans to impose tariffs on foreign imports several times since taking office.
No details of Wednesday\u2019s plans have been made available ahead of the announcement. The president is set to speak at 4pm ET. White House officials said that the implementation of the most sweeping rewrite of US trade policy would be immediate.
Trump has made clear a few goals he wants to accomplish through his tariffs: bring manufacturing back to the US, respond to unfair trade policies from other countries, increase tax revenue and incentivize crackdowns on migration and drug trafficking.
The implementation of his tariffs has so far been haphazard, with multiple rollbacks and delays and vague promises that have yet to come to fruition. The threats have soured US relations with its largest trading partners. Canada\u2019s prime minister, Mark Carney, has called them \u201cunjustified\u201d <\/a>and pledged to retaliate. The European Union has said it has a \u201cstrong plan\u201d to retaliate.<\/a>
Karoline Leavitt, Trump\u2019s press secretary, said that Trump was spending Tuesday \u201cperfecting\u201d the trade plan. \u201cHe is with his trade and tariff team right now, perfecting it to make sure this is a perfect deal for the American people and the American worker,\u201d Leavitt said.
Ahead of the announcement, Trump repeated the idea of imposing so-called reciprocal tariffs, where the US would tax imports at the same rates that a country uses for US exports. Trump has specifically mentioned countries like South Korea, Brazil and India, along with the EU, as being possible targets for reciprocal tariffs.
\u201cThe world has been ripping off the United States for the last 40 years and more,\u201d Trump told NBC<\/a> over the weekend. \u201cAll we\u2019re doing is being fair.\u201d
Also still on the table are 25% tariffs on all imports from Mexico<\/a> and Canada, two of the US\u2019s biggest trading partners, which Trump wants to utilize to force the countries to quell migration and drug trafficking into the US. In early March, Trump delayed the start of the tariffs for the second time after negotiating with leaders of the two countries.
Reports<\/a> have also said that Trump\u2019s advisers are also pitching him a 20% across-the-board tariff on all imports, something closer to what Trump promised on the campaign trail.
Any tariffs announced would be on top of the tariffs that Trump has already implemented: an additional 20% tariff on all Chinese imports and a 25% tariff on all steel and aluminium imports. There is also a 10% tariff on energy imports from Canada<\/a>.
Trump also announced in March a 25% tariff<\/a> on all imported vehicles and, eventually, imported auto parts, which will start going into effect on Thursday.
The tariff plans have led to stock market sell-offs and are proving unpopular<\/a> with Americans, according to polls<\/a>. Multiple reports suggest internal conflict within the White House over how far and wide the tariffs should go have exacerbated the uncertainty over what the tariffs will be.
Recent reporting from Politico<\/a> suggests that some within the White House see the commerce secretary, Howard Lutnick, as the most aggressive about tariffs, pushing across-the-board measures. Meanwhile, the treasury secretary, Scott Bessent, and trade adviser Peter Navarro are both more averse to dramatic tariffs.
But all conflict within the White House has been largely internal, while Trump and his cabinet have spent the last few weeks trying to pitch the tariffs as good for the US economy<\/a>, even as the US stock market has been sliding downward and consumer and business sentiments have plummeted.
On Monday, the end of the first quarter of 2025, two of the three major stock exchanges saw their worst quarter<\/a> in over two years as Wall Street has been reeling from the chaos of Trump\u2019s trade wars. In March, consumer confidence plunged<\/a> to its lowest level in over four years.
Economists at Goldman Sachs, JPMorgan and other banks lowered their forecasts for growth in the US economy in recent days and have noted an increased chance<\/a> of a recession.
Neel Kashkari, president of the Minneapolis Federal Reserve, told Bloomberg News<\/a> that it is \u201cthe most dramatic shift in confidence that I can recall, except for when Covid hit,\u201d he said. \u201cIt\u2019s conceivable that the hit to confidence could have a bigger effect than the tariffs themselves.\u201d
The Trump administration has tried to argue that the drop in confidence has to do with the uncertainty over trade policy, not the impacts of the tariffs themselves. Yet economists say<\/a> the impacts of tariffs will be another uncertainty in itself, likely leading to higher prices as American businesses, which will have to pay the tariffs on imports, ultimately shift the cost down to consumers.
\u201cCEOs are consistently saying they want to hike prices,\u201d Alex Jacquez, CEO of the Groundwork Collaborative, a progressive thinktank and advocacy group, told reporters on Tuesday. \u201cWhat the major retailers and companies who may be affected by tariffs are already planning to do \u2026 is pass these costs along to consumers as much as they possibly can.\u201d<\/p>\n

source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

President\u2019s plans have rattled global stock markets and triggered heated rows with US\u2019s largest trading partnersDonald Trump will announce his latest round of tariffs at the White House on Wednesday, threatening to unleash a global trade war on what he has dubbed \u201cliberation day\u201d.Trump has rattled global stock markets, alarmed corporate executives and economists, and […]<\/p>\n","protected":false},"author":1,"featured_media":132176,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-132175","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","entry"],"_links":{"self":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/132175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/comments?post=132175"}],"version-history":[{"count":0,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/132175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media\/132176"}],"wp:attachment":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media?parent=132175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/categories?post=132175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/tags?post=132175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}