Miranda Jeyaretnam and Chad de Guzman
Donald Trump’s promised “Liberation Day” was originally planned for Tuesday, April 1, until the President told reporters last month he pushed it back 24 hours so it wouldn’t be viewed as an April Fool’s joke. “Nobody would believe what I said,” he explained.
Perhaps he knew that his announcement on Wednesday, April 2, would sound a bit ridiculous—but everyone is certainly taking it seriously now.
Trump announced “reciprocal” tariffs on imports from nearly every nation on earth—allies and adversaries alike—in a move that is expected to rock the U.S. economy and will upend global trade.
Several world leaders have already pushed back against the latest tariffs—which were set at a minimum of 10% and rise as high as 50% for the hardest-hit countries—some promising swift countermeasures that could effectively force economies everywhere to become more insular, others asking for an opportunity to negotiate to avoid all-out trade war.
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