Trump's 'Liberation Day': Economic Reform or Risky Gamble?

President Trump announced a new set of tariffs dubbed “Liberation Day,” aiming to reduce U.S. reliance on foreign products. Critics predict price hikes and economic disruptions, while Trump insists it's a strategic move to enhance domestic investment. Global leaders express concern over potential economic fallout.

President Donald Trump has declared Wednesday as "Liberation Day," proposing it as a game-changer for the American economy through the introduction of new tariffs aimed at decreasing U.S. dependence on foreign goods.

Analysts warn that these tariffs could burden American families with higher costs, possibly stymying economic growth and affecting family budgets and the global economy. Trump counters by emphasizing potential investments from CEOs to dodge import taxes.

Globally, leaders are wary, citing possible disruptions to trade relations and negative impacts on international economies. Trump's rhetoric underscores his belief in tariffs as a path to national economic revival, but consumer concerns reflect a more skeptical perspective on the plan's efficacy.

(With inputs from agencies.)