Donald Trump has unveiled new tariffs on all U.S. trading partners in what the president has repeatedly billed as “Liberation Day” as the announcement approached.
Trump promised to roll out reciprocal dollar-for-dollar tariffs on nations that levy duties on U.S. goods as part of an aggressive attempt to fulfill his administration’s America First agenda and correct years of what he deems “unfair” trade.
In a speech at a “Make America Wealthy Again” event in the White House Rose Garden shortly after U.S. markets closed, the president announced across-the-board tariffs of 10 percent on all nations, with tariffs for the “worst offenders” at 50 percent of what they tax American goods.
Meanwhile, four Republican senators joined every Democratic senator in a resolution to oppose Trump’s tariffs against Canada.
The Senate passed the resolution 51-48 on Wednesday after Trump announced his tariffs.
Neighboring Canada and Mexico are not subject to additional tariffs beyond those already imposed related to fentanyl trafficking, with exemptions under the USMCA trade agreement.
Plans were kept firmly under wraps in advance of the event, with Trump’s team reportedly weighing options through Tuesday.
‘What extraordinary nonsense this is’
Watch: Trump claims Great Depression wouldn’t have happened with tariffs
Bizarre moment Trump declares Great Depression wouldn’t have happened with tariffs
Donald Trump has declared that the US could have avoided the Great Depression with tariffs. The president made the remarks in front of the White House on Wednesday (2 April), when he announced a 10 percent baseline tariff on all imports to the US. During his speech, Trump suggested the economic decline in the country began in 1913, when income tax was introduced. “Then in 1929, it all came to an abrupt end with the Great Depression,” the president said. “And it would have never happened if they stayed with the tariff policy.”
Oliver O’Connell3 April 2025 06:00
Stock futures plunge after Trump announces ‘Liberation Day’ agenda of worldwide tariffs
Josh Marcus writes:
As of 6:30pm Eastern time, Dow futures contracts were down 2.43 percent, S&P 500 contracts were down 3.60 percent, and Nasdaq futures were down 4.46 percent.
The outlook of these futures contracts, which are based on the anticipated movement of the major stock indices, stood in contrast to trading activity on the major exchanges earlier Wednesday.
There, the big three indices were all trading up modestly by less than one percent by the closing bell.
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Gustaf Kilander3 April 2025 05:30
‘Liberation Day’: Trump claims U.S. industry ‘reborn’ as he imposes sweeping worldwide tariffs
Donald Trump has announced an across-the-board tax on all imported goods purchased by Americans and additional taxes on imports from countries which officials deem to be placing unfair barriers on the importation or sale of American goods.
The president unveiled the measures on what he called “Liberation Day,” in an effort to forcibly undo decades of globalization and reindustrialize a U.S. economy that has become increasingly dominated by services and knowledge-based work in recent years.
Speaking at a long-anticipated event in the White House Rose Garden, Trump said Wednesday would “forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to make America wealthy again.”
Andrew Feinberg and Eric Garcia report from Washington, D.C.
Oliver O’Connell3 April 2025 05:00
Wife of wrongfully deported Maryland father to 5-year-old son with disabilities speaks out for first time
“I’ve seen news of that prison, and I know they take criminals there. And my husband’s not a criminal,” Jennifer Vasquez Sura told CBS News.
Alex Woodward has more:
Gustaf Kilander3 April 2025 04:30
Four Republican and every Democratic senator vote to oppose Trump’s Canada tariffs in resolution
Eric Garcia writes:
The Senate passed the resolution 51-48 on Wednesday after Trump announced his “Liberation Day” tariffs, a series of across-the-board tariffs of 10 percent on all nations.
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Gustaf Kilander3 April 2025 04:28
Trump attorney told associate president could potentially run for third term
While insisting he’s “studied the law,” one of Donald Trump’s attorneys and closet allies has insisted that the president could run for a third term, according to a report.
In 2023, Boris Epshteyn, a longtime Trump adviser who now serves as his personal lawyer, told an associate that he “studied the law” and believed Trump could find a way to run for a third term, the Wall Street Journal reported.
Kelly Rissman has the story.
Oliver O’Connell3 April 2025 04:00
Trump announces tariffs on uninhabited islands and U.S. military base
President Donald Trump imposed tariffs on a number of uninhabited islands and a U.S. military base on Wednesday.
Trump imposed levies on the Heard and McDonald Islands in the sub-Antarctic Indian Ocean, Axios noted.
The mostly barren UNESCO World Heritage site was featured on the list of areas that now face a baseline of 10 percent taxes on U.S. imports, as well as mainland Australia.
The 10 percent levy was also imposed on the British Indian Ocean Territory, which only counts U.S. and U.K. service members as its inhabitants at the Diego Garcia base.
Gustaf Kilander3 April 2025 03:52
Treasury secretary says prices ‘could’ go up after Trump’s tariff announcement
Gustaf Kilander3 April 2025 03:45
Six in 10 Americans oppose deporting migrants who haven’t committed crimes to El Salvador prison
Josh Marcus writes:
Sixty-one percent of respondents told YouGov earlier this week they oppose or strongly oppose the hundreds of deportations to El Salvador, most of which the Trump administration has carried out using the emergency Alien Enemies Act, a wartime law that allows the government to summarily deport non-citizens.
Read more:
Gustaf Kilander3 April 2025 03:30
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