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3w ago

Trump to Announce 'Liberation Day' Tariffs, Marking Major Trade Policy Shift

The tariffs, effective immediately, aim to reduce trade imbalances and boost U.S. manufacturing while facing global retaliation and domestic opposition.

Ontario Premier Doug Ford speaks to reporters following the First Ministers Meeting at the National War Museum on Friday, March 21, 2025. U.S. President Donald Trump gestures while speaking during an executive order signing event in the Oval Office of the White House on March 31, 2025 in Washington, DC. Canadian Prime Minister Mark Carney speaks with media on Parliament Hill following a meeting of the Cabinet Committee on Canada-U.S. Relations and National Security, in Ottawa.
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U.S. President Donald Trump looks to entertainer Kid Rock as he delivers remarks before signing an executive order in the Oval Office of the White House on March 31, 2025 in Washington, DC.
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Overview

  • President Trump is set to unveil the 'Liberation Day' tariffs during a Rose Garden event today, with the policy taking effect immediately.
  • The tariffs include a 25% tax on auto imports starting April 3 and target nations with significant trade imbalances, labeled the 'dirty 15.'
  • The European Union and other trading partners are preparing retaliatory measures, escalating fears of a global trade war.
  • Domestic opposition grows as bipartisan Senate efforts aim to block specific tariff measures, particularly on Canadian imports.
  • The Trump administration predicts the tariffs will generate $600 billion annually, but critics warn of higher consumer costs and economic disruptions.