Trump, tariffs
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The Trump import tax shock may be hitting a different economy.
From Reuters
President Trump says Wednesday will be “Liberation Day” — a moment when he plans to roll out a set of tariffs that he promises will free the United States from foreign goods.
From The Boston Globe
"In Michigan, where one in five jobs is automotive-related, the pain felt by working-class citizens will be profound."
From Reuters
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Reaction to Trump's 25% auto tariffs include neighbors who insist "there shouldn't be any tariffs," to adversaries who say nobody will win a trade war.
March 26, 2025: President Trump announces a 25% tariff on almost all imported cars to be effective April 3, 2025, and on key auto parts planned for May 3. March 12, 2025: The U.S. announces Increased tariffs on steel and aluminum to 25% globally. March 4, 2025: Trump increases tariffs on Chinese imports to 20%.
Trump has repeatedly said he will announce details Wednesday for his plan to slap tariffs on countries around the world.
The Trump administration is planning to impose a round of fresh tariffs on April 2, a day President Trump has dubbed "Liberation Day." The announcement is viewed by economists as the culmination of his "America First Trade Policy,
A belief in the almost mythical power of tariff warfare has been a rare constant in Trump’s business and political career since the 1980s — when the big threat he perceived to US prosperity was Japan, rather than top current rivals China and the European Union.
The Trump administration’s tariffs are forcing Japan’s government to scramble to come up with support measures for businesses amid concerns that the levies might create a big economic crisis for the Asian nation.
U.S. President Donald Trump said on Sunday reciprocal tariffs he is set to announce this week will include all nations, beyond just a smaller group of 10 to 15 countries. Trump has promised to unveil a massive tariff plan on Wednesday,
Shares in the US have bounced back, despite tariff fears hitting stocks in Asia and Europe after US President Donald Trump suggested that he was planning import taxes that could hit "all countries". Trump's comments came as he prepares to unveil a massive slate of import taxes on Wednesday,