“Trump’s Immediate Tariffs Set to Take Effect on Liberation Day”
President Donald Trump’s anticipated tariffs are just around the corner, set to go into effect sooner than anticipated. The White House announced on Tuesday that the tariffs will be implemented immediately.
While many specifics remain unknown, even to Trump himself, the administration’s trade policy announcement on “Liberation Day” is expected to be the most aggressive tariff move yet by the president. Trump, known for his focus on tariffs, is meeting with his trade team on Tuesday, and the tariffs he unveils at a Rose Garden ceremony on Wednesday at 4 pm ET will take effect without delay, according to White House Press Secretary Karoline Leavitt.
Trump has made it clear that he intends to impose tariffs on US imports as a solution for various issues. This approach has caused concern among investors, economists, CEOs, and a growing number of the population who fear that the tariffs could have negative economic consequences.
The upcoming tariffs may surpass Trump’s previous efforts in this area. While the details of the plan are still uncertain, the potential impact of a universal tariff of up to 20% on all imports, coupled with retaliatory measures from other countries, could lead to significant economic repercussions, according to experts.
The uncertainty surrounding the tariffs announcement on Liberation Day has left many wondering about the specifics of the plan. Trump’s advisers publicly support his tariff agenda, but there are differing opinions on the approach and scope internally.
Regardless of the final decision, the proposals are expected to be unprecedented and have a historic impact. The announcement on Liberation Day could involve reciprocal tariffs targeted at the countries with which the US has the largest trade deficits or a broader application of tariffs on all countries.
Trump has hinted at a broad approach, potentially imposing tariffs on all countries. The specifics of the tariffs, including the rates and the products affected, are still unknown.
Approximately 15 countries may be affected by Trump’s proposed Liberation Day tariffs, potentially targeting all imports universally. This ambitious plan, estimated to cover around $3.3 trillion of imported goods, marks a departure from the roughly $380 billion worth of imports subject to tariffs during Trump’s first term. These proposed tariffs, reminiscent of President William McKinley’s protectionist policies from the 1890s, would be significantly larger in scope. Trump has already implemented various tariff increases, affecting imports totaling over $1 trillion, with potential for further expansion. Despite concerns about economic repercussions, including fears of recession and stagflation, Trump remains steadfast in his tariff strategy. Market uncertainty has escalated, with investors expressing apprehension about the impact on the US economy. While some question the wisdom of Trump’s aggressive tariff approach, others believe it will ultimately address longstanding trade imbalances.
For decades, there have been concerns about individuals taking advantage of our country. White House press secretary Karoline Leavitt stated that the current actions are intended to benefit American workers. While tariffs were imposed by Trump during his first term without causing stagflation or a recession, the present economic landscape is different. Inflation and interest rates are higher, making people more sensitive to price changes.
The new approach by Trump is much more aggressive, with potential widespread impact. Businesses are already feeling the effects, expressing frustration over the uncertainty caused by tariffs and policy changes. Some have described the situation as “truly ridiculous” and unprecedented in their years of experience.
There is concern that universal tariffs could teach a hard lesson about their dangers. Leavitt acknowledged consumers’ worries about tariffs but emphasized the need for patience to see results from the president’s economic plans. She mentioned that upcoming announcements aim to protect future generations and ensure job opportunities in the US.
Despite claims that tax cuts and deregulation could mitigate the effects of tariffs, economists remain skeptical. Analysts from Goldman Sachs doubt that economic growth from fiscal policies will offset the damage caused by massive tariffs. Leavitt defended the administration’s approach, highlighting efforts to lower inflation and energy prices while implementing tariffs.
When questioned about a potential shift in strategy if the tariff plan fails, Leavitt dismissed the idea, emphasizing the ongoing commitment to the current economic formula. The administration aims to balance economic initiatives to support growth and job creation.
Leavitt stated confidently that the plan is not destined to fail, but rather to succeed. He emphasized the expertise of the president’s experienced team of advisers who have dedicated years to studying these matters. Their primary goal is to revive the Golden Age of America and elevate it to a leading manufacturing superpower. Additional reporting by CNN’s Kevin Liptak and Elisabeth Buchwald. Stay updated on CNN news and receive newsletters by signing up at CNN.com.
