Overview

• President Donald Trump’s sweeping 'Liberation Day' tariffs officially took effect on April 1, targeting a broad range of imports to address trade imbalances.
• The stock market has experienced significant declines, with analysts attributing the drop to the economic uncertainty created by the tariffs.
• Stellantis NV, a major U.S. automaker, temporarily laid off 900 workers, citing the immediate impact of the tariffs on business operations.
• Farmers and Republican lawmakers, including Senator Thom Tillis, have criticized the tariffs, warning of severe financial strain on agricultural communities already struggling to recover from past losses.
• The White House defends the tariffs as part of a broader economic strategy, claiming they will bring trillions in investment, though critics warn of higher consumer prices and the largest tax hike on Americans since 1968.