Trump, Liberation Day
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CBS News |
With today's announcement, U.S. tariffs will approach levels not seen since the Smoot-Hawley Tariff Act of 1930, which incited a global trade war and deepened the Great Depression.
Associated Press |
President Donald Trump on Wednesday announced far-reaching new tariffs on nearly all U.S. trading partners — a 34% tax on imports from China and 20% on the European Union, among others — that threate...
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The "Liberation Day" tariffs will be added to existing tariffs, meaning that China's current 20% tariff rate will soon jump to 54% when the 34% reciprocal duties are imposed on April 9.
"Liberation Day" should be seen not as the moment it's all over in terms of negotiations for countries globally. Rather it should be seen as the start.
On Wednesday — what Trump has referred to as "Liberation Day" — the president is set to announce a new trade policy designed to "roll back unfair trade practices that have been ripping off the American people," White House Press Secretary Karoline Leavitt said Monday.