Trump Announces “Liberation Day” Tariffs on US Trading Partners

Donald Trump announced sweeping import tariffs at the White House on 2 April 2025, declaring an economic emergency over trade deficits. The plan set a 10% baseline tariff and higher rates for dozens of trading partners, including the European Union and China. Trump said it would rebuild American manufacturing; economists warned of higher prices and retaliation. Allies and rivals alike were hit, and many began looking for partners other than Washington.