CA, US & World
President Trump Declares April 2 "Liberation Day," Unveils Sweeping New Tariff Plan
President Donald Trump announced his highly anticipated tariff plan Wednesday, declaring April 2, 2025, as “Liberation Day” during a speech in the White House Rose Garden. The sweeping economic policy imposes a minimum 10% tariff on virtually all imported goods, with even higher rates targeting countries with the largest trade deficits with the United States.
“April 2, 2025, will forever be remembered as the day American industry was reborn,” Trump told the crowd. “We are beginning to make America wealthy again.”
The president emphasized that the tariffs are reciprocal, meaning they will match the rates imposed by other countries on U.S. goods. Trump says the revenue generated from the tariffs will help reduce taxes and pay down the national debt.
Critics, however, are sounding the alarm. Democratic lawmakers argue the tariffs will lead to rising prices on essentials like energy, smartphones, and vehicles—placing the burden on everyday Americans.
Trump has already implemented a 25% tariff on all steel and aluminum imports, and a 25% tariff on foreign-made cars goes into effect Thursday. A similar tariff on auto parts is expected to follow by early May.
Several U.S. trade partners—including China, Japan, South Korea, the EU, Canada, and Mexico—have signaled plans to retaliate swiftly.
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By: NBC Palm Springs
April 2, 2025
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