President Trump Launches 'Liberation Day' Imposing Global Tariffs

WASHINGTON D.C., United States of America - 3 April 2025

In a bold move to reshape U.S. trade policy, President Donald Trump proclaimed 2 April as "Liberation Day," unveiling a series of extensive tariffs aimed at addressing what he described as decades of unfair trade practices. Speaking from the White House Rose Garden, President Trump asserted that the new measures would revitalize American industry and reduce the nation's trade deficit.

The announced tariff structure includes a universal 10% tariff on all imported goods, set to take effect on 5 April. Additionally, specific countries will face higher "reciprocal" tariffs starting 9 April, including China (34%), European Union (20%), Japan (24%), Vietnam (46%), and Cambodia (49%).

President Trump framed these actions as a response to a national economic emergency, stating, "We're going to start being smart, and we're going to start being very wealthy again." He emphasized that the tariffs are designed to protect American workers and industries from foreign exploitation. ​

The announcement has elicited a spectrum of responses within the United States. Supporters argue that the tariffs are a necessary step toward revitalizing American manufacturing and correcting trade imbalances. Conversely, critics warn of potential economic repercussions, including increased consumer prices and strained international relations. Economists have expressed concerns about the tariffs' potential to trigger inflation and slow economic growth. ​

The international community has reacted with a mix of condemnation and concern. European Commission President Ursula von der Leyen described the tariffs as a "major blow" and indicated that Europe is "prepared to respond." Japanese Trade Minister Yoji Muto labeled the measures "extremely regrettable" and urged the U.S. to reconsider. Australian Prime Minister Anthony Albanese criticized the tariffs as "illogical and harmful," emphasizing that they are "not the act of a friend." ​

Financial markets have responded negatively to the announcement. The S&P 500 index futures fell more than 3% following the news, while Japanese Nikkei 225 futures declined approximately 2%. Analysts warn of potential inflationary effects and supply chain disruptions. The National Retail Federation cautioned that the tariffs would "cause more anxiety and uncertainty for American businesses and consumers," highlighting that U.S. importers, not foreign suppliers, would bear the initial financial burden. 

Image: The White House

Public domain.