"It's Liberation Day in America," wrote US President Donald Trump on his Truth Social platform today, with an all-caps proclamation. He is set to roll out the measures flanked by cabinet members in the Rose Garden of the White House at 4:00 pm (2000 GMT) -- after Wall Street markets close -- promising that they will stop America being "ripped off" and will deliver a new "golden age" of US industry.
On Tuesday, the White House announced that the tariffs will come into effect 'immediately' after the announcement by Trump.
The post comes as the Trump administration’s sweeping reciprocal tariffs officially take effect, marking a dramatic escalation in the United States' trade stance. The new tariffs, which apply to all foreign nations trading with the US, are intended to counter what Trump calls "decades of unfair trade practices" that have hurt American workers and industries.
Trump's fiery declaration underscores his belief that the tariffs will restore economic fairness and strengthen domestic manufacturing. During a press conference recently, he doubled down on his stance, stating:
"For too long, America has been the world's piggy bank. Today, we take back control. This is our Liberation Day from unfair deals, sky-high tariffs on American goods, and a rigged system that has hurt our businesses and workers."
The move is expected to hit major US trading partners, including China, the European Union, India, Japan, Mexico, and Canada.
The tariff rollout has already sent shockwaves through global markets, with fears of retaliation from affected nations. Some foreign leaders have hinted at countermeasures, raising concerns about a potential global trade war.
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