Trump Announces Sweeping New Tariffs in Major Trade Policy Shift
U.S. President Donald Trump was set to implement broad new reciprocal tariffs on global trading partners on Wednesday, marking a significant departure from decades of rules-based trade policies. This move risks increasing costs for consumers and will likely trigger retaliatory measures from affected countries. Final details of the tariff plans, which Trump has characterized as America's "Liberation Day," were still being finalized ahead of a White House Rose Garden announcement scheduled for 4 p.m. Eastern Time (2000 GMT). The new duties will take effect immediately following Trump's announcement, while a separate 25% global tariff on auto imports is scheduled to begin on April 3. Trump has framed his reciprocal tariff strategy as an effort to equalize generally lower U.S. tariff rates with those charged by other countries and to counter non-tariff barriers that disadvantage American exports. However, the specific structure […]