US president set to announce major tariff hikes targeting trade imbalances

US President Donald Trump is set to unveil a new set of country-specific tariffs later today (April 2), an event he has dubbed “Liberation Day.” The tariff hike is expected to be the largest unilateral increase since the Cuban embargo of the 1950s.

Trade and tariffs have been a central theme of Trump’s presidential campaign, forming the backbone of his strategy to boost the American economy. Countries such as India and Japan are expected to be hit by reciprocal tariffs due to their heavy taxation on American goods.

According to the White House, the new taxes will take immediate effect, while tariffs on automobiles will come into force from April 3.

Need a new Car? Rent To Own Cars No Credit Check

need a new car? rent to own cars no credit check ...

April 2, 2025

5:47 pm

Celebrate the Holidays in a New Hyundai Palisade

celebrate the holidays in a new hyundai palisade...

April 2, 2025

6:03 pm

Drive into the Future with the 2025 Subaru Forester

drive into the future with the 2025 subaru forester...

April 2, 2025

5:45 pm

Want an SUV with Easy Access and Comfort for Seniors? Here’s How to Get It!

want an suv with easy access and comfort for seniors? here’s how to get it!...

April 2, 2025

5:46 pm

“The president will be announcing a tariff plan that will roll back the unfair trade practices that have been ripping off our country for decades. It’s time for reciprocity, and it’s time for a president to take the historic change to do what’s right for the American people,” said White House Press Secretary Karoline Leavitt.

Date and time of Trump’s tariff announcement

Trump is scheduled to announce the new tariffs at 4 PM (local time) on Wednesday. As per Eastern Time (ET).

The announcement will be made during the ‘Make America Wealthy Again’ event at the White House Rose Garden. Reciprocal tariffs will take effect immediately after Trump’s declaration.

Explore Surprisingly Affordable Luxury RAM 1500

explore surprisingly affordable luxury ram 1500...

April 2, 2025

6:03 pm

2025 Jeep Wrangler Price One Might Not Want to Miss!

2025 jeep wrangler price one might not want to miss!...

April 2, 2025

5:50 pm

Explore The 2025 Jeep Compas: Adventure Awaits!

explore the 2025 jeep compas: adventure awaits!...

April 2, 2025

6:02 pm

Need a new Car? Rent To Own Cars No Credit Check

need a new car? rent to own cars no credit check ...

April 2, 2025

5:40 pm

Where to watch Trump’s tariff announcement

The event will be broadcast live on major news networks including Fox News, CNN, and CNBC. It will also be available for live streaming on the official White House website and various online platforms.

What to expect from Trump’s new tariffs?

Although the full list of affected nations remains unknown, reports suggest that Trump could impose a 25% tariff on key trading partners such as Germany, Japan, Italy, Taiwan, and Vietnam. India is also likely to face reciprocal tariffs.

According to the White House, the primary goal of these tariffs is to address trade imbalances between the US and its trading partners, regardless of whether they are allies or rivals.

This article Trump reciprocal tariffs: Date, time and what to expect from the ‘Liberation Day’ announcement appeared first on BreezyScroll.

Read more on BreezyScroll.