Trump to announce 'reciprocal' tariffs in bold economic gamble
President Trump will announce new 'reciprocal' tariffs on April 2, 2025, targeting both allied and rival nations to boost U.S. manufacturing, though experts warn of potential economic and trade disruptions.
Published on April 2, 2025
On April 2, 2025, President Donald Trump is set to unveil a series of new 'reciprocal' tariffs targeting both allied and rival nations. The plan includes a 25% tariff on auto imports, expanded duties on steel and aluminum, and additional levies against countries such as China, Canada, Mexico, and parts of the European Union.
Dubbed 'Liberation Day,' these measures are designed to boost U.S. manufacturing and counter what the administration calls unfair trade practices. However, analysts caution that the tariffs may trigger retaliatory actions, raise consumer prices, and dampen GDP growth, further complicating global economic ties and trade relations.