Problem with Trump's 'Liberation Day' tariffs
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President Trump announced sweeping tariff hikes on April 2, 2025, citing inflated claims of foreign tariffs on U.S. goods as justification.
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The Trump administration’s latest trade offensive is underway as Customs and Border Protection (CBP) begins enforcing “Liberation Day" tariffs, pulling in more than $200 million a day.
2don MSN
Trump also slammed China, which retaliated against his sweeping tariff policy Friday with a new 34% tariff on U.S. goods.
3don MSN
Vietnam had a trade surplus of $123.5 billion with the U.S. last year, leading analysts to warn earlier this year that the country was most at risk. Hanoi had tried to win itself a reprieve by preemptively cutting import duties in the lead-up to April 2.
President Donald Trump announced reciprocal tariffs and a 25% tariff on car imports on his much-anticipated "Liberation Day" tariff rollout.
Trump has championed his tariffs despite a historic selloff across U.S. markets, claiming his levies would bring in “billions.”
Israel, Taiwan, Vietnam and Zimbabwe said they could drop tariffs on U.S. goods. In some cases, that might not be enough, White House trade adviser Peter Navarro said.
If the average tariff rate passes 20%, that could push the US into stagflation territory and give the economy a growth shock, Citi says.