US President Donald Trump is preparing to announce a new set of tariffs on Wednesday, which he’s calling “Liberation Day.” (Photo Credits: Twitter)
While Trump has kept the specifics under wraps, he has made clear that the move is aimed at correcting what he sees as persistent and unfair trade imbalances. The president has indicated the tariffs will be set below the levels other nations currently impose on the United States.
“We’re going to be very nice, relatively speaking, we’re going to be very kind,” Trump said from the Oval Office, adding, “We sort of have a world obligation perhaps.”
Markets reacted with caution ahead of the announcement, with global stocks fluctuating. The uncertainty surrounding the scope and targets of the tariffs has kept both allies and adversaries guessing.
Trump, who described the upcoming measures as “reciprocal tariffs,” first hinted at the plan on Monday night, stating he had “settled” on an approach but offered no further details.
He is expected to lay out the full strategy during a “Make America Wealthy Again” press conference, scheduled for 4:00 p.m. (2000 GMT) in the White House Rose Garden on Wednesday, April 2.
