White House Confirms Trump to Proceed with Tariffs Amid Global Trade Concerns
President Trump will announce new tariffs on April 2, including a 25% auto import levy and reciprocal measures, a move that raises concerns over economic slowdowns and international trade tensions.
Published on April 2, 2025
On April 2, 2025, the White House confirmed that President Donald Trump would move forward with new tariffs, with the announcement scheduled in the Rose Garden during what he has termed 'Liberation Day.' The tariffs are set to include a 25% levy on auto imports, alongside reciprocal measures against countries that impose duties on American products.
The move is designed to address the U.S. trade deficit, although it has raised concerns among economists and international trading partners such as Canada and Mexico. Market participants, including hedge funds, have already started adjusting their positions ahead of the announcement, amid warnings that the tariffs could lead to higher prices, reduced consumer confidence, and a potential slowdown in the global economy.