Trump Declares 'Liberation Day' as New Tariffs Take Effect
President Trump declared April 2 'Liberation Day' to unveil sweeping new tariffs aimed at rebalancing global trade, despite growing fears of rising consumer prices and an increased risk of recession.
Published on April 1, 2025
On April 2, 2025, President Donald Trump officially declared the day as 'Liberation Day', marking the rollout of a broad set of new tariffs on imports. These measures are designed to rebalance global trade in favor of the United States, targeting key sectors such as automobiles, steel, aluminum, energy-related products, and pharmaceuticals.
The new, reciprocal tariffs have raised significant concerns among critics, who warn of higher consumer prices, potential inflationary pressures, and the risk of an economic slowdown that could even lead to a recession. Business leaders and policymakers alike urge caution, noting that these changes could prompt retaliatory measures from trade partners and create additional economic uncertainties in the coming months.