President Donald Trump is set to announce reciprocal tariffs for all nations starting April 2, the date he has dubbed “Liberation Day.”
Companies, markets, and governments are on edge, expecting the move to send shockwaves across the globe.
Liberation Day will impact all countries, Trump told reporters over the weekend aboard Air Force One. However, some countries will be more vulnerable due to their high trade imbalances with the United States and significant trade barriers against American goods, including China, India, the European Union, Canada, Mexico, the United Kingdom, Vietnam, Japan, and South Korea.
The president will reveal details of his tariff plan at a White House Rose Garden event Wednesday afternoon after the stock markets close.
Speaking to reporters from the Oval Office on March 31, Trump stated that his tariff rates will be lower—and in certain instances “substantially lower”—than what other countries have been charging the United States.
“We are going to be very nice by comparison to what they were,” the president said. “We have a world obligation, perhaps, but we’re going to be very nice, relatively speaking. We’re going to be very kind.”
