WASHINGTON, D.C. – In a bold move aimed at reshaping U.S. trade policy, President Donald Trump has declared April 2 as "Liberation Day," unveiling a series of new tariffs intended to bolster domestic manufacturing and address trade imbalances. The announcement marks one of the administration's most aggressive steps toward redefining America's economic relationships.
President Trump says these measures are designed to correct longstanding trade disparities, rejuvenate domestic industries, and ultimately reduce prices for American consumers. The tariffs are set to be "reciprocal," matching the duties that other nations impose on U.S. goods.
White House Press Secretary Karoline Leavitt said, "April 2nd, 2025, will go down as one of the most important days in modern American history."
While specific details are still emerging, reports indicate the administration is considering a 25% tariff on auto imports. Additionally, tariffs on steel and aluminum imports are also reportedly expected. The White House has indicated that these tariffs will take effect immediately.
Not all economists are concerned about the impact on the economy, but some believe there will be significant fallout. Goldman Sachs has raised the probability of a U.S. recession to 35%, citing the uncertainty and potential for increased consumer prices resulting from the tariffs.
The announcement has sparked bipartisan pushback in Congress. Democratic Senator Cory Booker of New Jersey criticized the move, questioning whether Americans are better off under the new trade policies.
Consumers have voiced concerns about potential price increases on everyday items, from appliances and groceries to clothing and automobiles.
Maine Republican Senator Susan Collins told CBN News she is worried about the effect on industries in her state.
The European Union and Canada have indicated their intention to respond with countermeasures. European Commission President Ursula von der Leyen said, "We have the largest single market in the world. We have the strength to negotiate." Canadian Prime Minister Mark Carney emphasized, "I will reject all attempts to weaken Canada... That will never, ever happen."
The White House has signaled that President Trump remains open to negotiations. Leavitt said, "The president is always open to taking calls."
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