Trump declares April 2nd as “Liberation Day” for new targeted tariffs
The post Trump declares April 2nd as “Liberation Day” for new targeted tariffs appeared on BitcoinEthereumNews.com.
Trump plans to announce reciprocal tariffs on April 2nd. These tariffs will target countries that have imposed tariffs and other long-term limitations on the US. Officials who are aware of the matter say this announcement on “Liberation Day” will be more specific than Trump’s overall global threats. It will relieve stock and trade markets’ concerns about an extensive trade war. However, the announcement will increase the tariffs that Trump has already imposed. While these tariffs will be focused on a group of countries, others will be exempted. The officials told Bloomberg that the administration would not reveal the industry-based tariffs on the same day, even though Trump had hinted at their possibility. Trump vowed to introduce sector-specific tariffs targeting industries such as automobiles, semiconductor chips, pharmaceuticals, and lumber. He specifically mentioned that auto tariffs would be included in the same batch. While an auto tariff is still under consideration, Trump has not dismissed the possibility of implementing it at a later time. Avoiding the measure in the April 2 announcement would likely be a relief for the auto industry, which is already concerned about the potential strain of multiple tariff streams on supply chains. Trump’s “Liberation Day” tariffs will take effect immediately The upcoming rates will be implemented and enforced right away to have an immediate impact. Officials say this will further damage the relations between the US and the allied countries, with possible reactions leading to a back-and-forth trade war. Although nothing is certain yet, as with Trump, decisions can be unpredictable until he officially announces them. Trump’s administration is having discussions on how to advance the trade strategy. Despite these internal negotiations, Trump himself is the force of aggressive intentions. He supports high tariffs. This is because Trump views raising import taxes as a way to generate revenue…
Filed under: News - @ March 23, 2025 11:10 am