In a move that has sent shockwaves through global trade circles, President Donald Trump’s latest round of tariffs will take effect immediately, the White House announced on Tuesday.
While many specifics remain unclear, the administration’s “Liberation Day” trade policy is expected to be the most aggressive tariff initiative yet from a president known for his protectionist stance, CNN reported.
Trump met with his trade team on Tuesday, finalizing a plan that will be unveiled during a Rose Garden ceremony at 4 p.m. ET on Wednesday. White House Press Secretary Karoline Leavitt confirmed that the tariffs would be enacted “immediately” following the announcement.
On Sunday, Trump told reporters that he had “settled” on a broad tariff plan, a statement that reportedly caught some White House officials off guard. If a final decision had been made, it had not been widely communicated within the administration, according to CNN sources.
What remains uncertain is whether Trump will impose tariffs on all U.S. trading partners, target specific countries, or apply a blanket tariff—potentially as high as 20%—on all imports. While his economic advisers support the tariff policy, they reportedly differ on the extent and approach.
Meanwhile, Trump recently claimed that India is preparing to “substantially” reduce tariffs on American goods.
“I think I heard that India just a little while ago is going to be dropping its tariffs very substantially, and I said, why didn’t somebody do this a long time ago?” Trump remarked.
When asked whether the new tariffs could push countries closer to China, Trump dismissed the concern, arguing that his policy would ultimately benefit other nations.
“No, I’m not worried about it. I think they have a chance of doing better with the tariffs. It can actually help them in a certain way, and I think a lot of them will drop their tariffs because they’ve been unfairly tariffing the United States for years,” he stated, without elaborating further.
Trump also pointed out that the European Union had reduced its tariffs on U.S.-made cars to 2.5%.
“If you look at the European Union—on cars, the European Union already dropped their tariff down to 2.5%. It was announced a couple of days ago, which is a very small tariff the United States charged,” he said.
The president will formally present his new tariff plan on April 2, in what he has called “Liberation Day,” marking his first major economic policy announcement of his second term, CNN reported.
