Nations Brace for Trump's 'Liberation Day' Tariffs
Donald Trump has announced new secondary tariffs, dubbed 'Liberation Day', targeting aluminium, steel, cars, and fentanyl imports, a move that FT experts say may adversely affect the U.S. economy while prompting global market adjustments.
Published on March 31, 2025
U.S. President Donald Trump has announced the imposition of secondary tariffs slated to begin this week, an event dubbed 'Liberation Day.' The measures will target aluminium, steel, cars, and fentanyl imports, a move that could significantly impact both domestic and global trade dynamics. FT economics leader Tej Parikh has warned that while the U.S. economy might face adverse effects, the global market may eventually adjust even if trade with the U.S. is reduced.
Additional details emerging from supplemental reports indicate that the tariffs are part of a broader strategy that could include tailored, reciprocal measures for different trading partners. With dates cited around March 31, 2025, experts and international leaders alike are bracing for potential fallout, including concerns of heightened consumer prices and disrupted market stability. Critics such as FT's Alan Beattie have already voiced apprehension about the personalized nature of these tariffs and the unpredictable long-term effects on global commerce.