Trump Announces Global Tariffs Ahead of ‘Liberation Day’

Trump Announces Global Tariffs
Washington, April 1: US President Donald Trump has declared that the United States will impose tariffs on all countries starting on April 2, calling it “Liberation Day.” The announcement, made aboard Air Force One, marks a shift from previous expectations that tariffs would be applied only to nations with significant trade imbalances or those levying high import duties on US goods. Instead, Trump made it clear that no countries would be exempt from the tariffs.

Tariffs on All Nations

While Washington had previously discussed reciprocal tariffs on nations that impose duties on US imports, Trump stated that the tariffs would apply to every country. He told reporters aboard the presidential aircraft:

“We would start with all countries, so let’s see what happens.”

Trump rejected rumors that only 10-15 countries would be affected by the tariffs, stating that “we’ve been talking about all countries—no cutoffs.” This contradicts earlier statements by US Treasury Secretary Scott Bessent, who had referred to a group of countries as the “Dirty 15” due to their trade practices.

A ‘Generous’ Approach to Tariffs

In his remarks, Trump also emphasized that the tariffs would be “more generous” and “kinder” than the treatment the US had received from other nations. He remarked:
“They ripped us off for decades, but we will be much nicer to them than they were to us.”

what will be the Impact on Trade and Retaliation

As part of his ongoing trade policy, Trump has already imposed tariffs on Chinese steel and aluminum, as well as several other goods, with new tariffs on auto imports scheduled to take effect on April 3.
India is in talks with the US to strike a trade deal to avoid the new tariffs, but many other nations are viewing Trump’s tariff plan as the start of a “tariff war” and have pledged to retaliate.

Economic Concerns

President Trump’s trade advisor, Peter Navarro, suggested that tariffs on auto imports alone could raise $100 billion annually, and applying reciprocal tariffs on all countries could generate $600 billion a year, or $6 trillion over 10 years.
However, economists are concerned that such sweeping tariffs will increase prices for US consumers, potentially leading to inflation and economic downturn. Despite these warnings, Trump has dismissed the concerns, calling “tariff” his favorite word, asserting that it will revitalize US manufacturing and help “make America great again.”

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