United States Prepares for ‘Liberation Day’ with New Trade Tariffs

President Donald Trump has declared April 2 as “Liberation Day,” a date on which he plans to implement a new round of reciprocal tariffs that could significantly impact the global economy. These tariffs, dubbed “The Big One,” are part of Trump’s trade war strategy against several countries, including the European Union, Mexico, Canada, China, and Japan. The measure aims to correct what the president considers decades of trade abuses by other nations.

International Reactions and Possible Retaliation

The European Union prepares its response, considering reciprocal tariffs on American products and using anti-coercion tools to protect economic interests. Brussels delayed implementing initial tariffs, prioritizing negotiations and finalizing a definitive taxed product list. Officials seek diplomatic solutions while ensuring strong measures against potential economic disadvantages. The strategy balances retaliation with maintaining trade stability and minimizing disruptions.

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Impact on the Global Economy

Experts warn that these tariffs could trigger retaliatory actions and geopolitical tensions, affecting economic growth and increasing global inflation. The U.S. Federal Reserve has noted that these measures heighten economic uncertainty in the country, leading to downward revisions in growth projections.

Exceptions and Additional Measures

President Trump announced exceptions for some nations on reciprocal tariffs, citing their inability to withstand the levies. He imposed a 25% tariff on countries buying Venezuelan oil, justifying it by accusing Maduro’s regime of sending criminals. These measures aim to pressure Venezuela while protecting certain allies from economic hardship. The administration asserts that the tariffs will enhance national security and economic stability.

Details of the Announced Tariffs

As “Liberation Day” approaches, the international community closely watches the actions of the United States and the potential responses from affected countries. The situation raises uncertainty about the future of trade relations and the global economic balance.