Trump Declares 'Liberation Day' with New Tariff Plan

US President Donald Trump is set to announce a new tariff proposal on April 2, dubbed 'Liberation Day', aiming to counter what his administration considers unfair trade practices. While the specifics remain unclear, reciprocal tariffs and flexible strategies are anticipated in this significant move for Trump's economic agenda.

In a landmark move, President Donald Trump is preparing to unveil a new tariff strategy on April 2, which he has labeled 'Liberation Day'. The announcement is scheduled to occur during his first Rose Garden press conference of his second term, as reported by CNN. The comprehensive plan aims to address what the administration refers to as decades of unfair international trade practices.

White House Press Secretary Karoline Leavitt confirmed that the event will be attended by the full cabinet, yet details of the plan remain speculative. 'Wednesday, it will be Liberation Day in America,' Leavitt stated, citing the President's pride in the initiative, which plans to impose reciprocal tariffs, ensuring parity with foreign nations' rates on US goods. Highlighted was Canada's 250 percent tariff on American dairy, showcasing perceived excessive foreign trade barriers.

The proposal, while expected to reciprocally match tariffs, is likely to present flexibility. Officials have suggested it may selectively target countries, though Trump mentioned a broad application with potential negotiations. This strategic ambiguity underscores the administration's intention to realign trade dynamics favorably for the US, marking a pivotal step in Trump's economic policy framework.

(With inputs from agencies.)