Trump gives remarks on ‘Liberation Day’ tariffs
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USA TODAY |
Trump argues that tariffs will create a more balanced economic playing field for U.S. exports and encourage domestic manufacturing.
Reuters |
Experts say it will take years to rekindle U.S. manufacturing, alter supply chains and bring home production, the goals Republican Trump and his supporters suggest his tariffs will achieve.
BBC |
The announcement includes a significant 34 percent tariff on imports from China and a 20 percent tariff on goods from the European Union.
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The "Liberation Day" tariffs will be added to existing tariffs, meaning that China's current 20% tariff rate will soon jump to 54% when the 34% reciprocal duties are imposed on April 9.
"Liberation Day" should be seen not as the moment it's all over in terms of negotiations for countries globally. Rather it should be seen as the start.
On Wednesday — what Trump has referred to as "Liberation Day" — the president is set to announce a new trade policy designed to "roll back unfair trade practices that have been ripping off the American people," White House Press Secretary Karoline Leavitt said Monday.