The world awaits Trump’s decisions on what he calls “Liberation Day”

After imposing tariffs on aluminum, steel, and automobiles, in addition to increasing tariffs on all goods from China, global markets are awaiting US President Donald Trump’s announcement of the new tariffs on Wednesday.

Trump previously pledged that no country would escape the tariffs, at a time when financial policymakers fear their impact on the global economy.

The president, who returned to the White House last January, had considered his announcement tomorrow, April 2, to be a “liberalization day” for the US economy, but he did not provide further details.

On Tuesday, the White House said that the tariffs Trump will announce will take effect immediately, a day after other assurances that any country that has treated Americans unfairly should expect tariffs.

White House spokeswoman Caroline Levitt also indicated that those who manufacture their products in the United States “will not pay tariffs.” The Washington Post reports that White House advisers have drawn up plans to impose tariffs of about 20% on most imports into the United States, from virtually all countries. This is instead of the more targeted approach that was also being considered.

The newspaper added that the US administration expects the new tariffs to raise more than $6 trillion in revenue.

Trump has already imposed tariffs on aluminum and steel imports and increased tariffs on all goods from China, increasing tensions with the country’s largest trading partners.

Canada has vowed to retaliate with counter-tariffs, and the European Union and other countries have threatened countermeasures as well.

Trump believes that American workers and manufacturers have been hurt in recent decades by free trade deals that reduced barriers to global trade and fueled the growth of the US market for $3 trillion in imported goods.

The explosion in imports comes amid what Trump sees as a glaring downside: severely imbalanced trade between the United States and the world, with a goods trade deficit exceeding $1.2 trillion. But economists warn that Trump’s solution to this problem, imposing tariffs, will raise prices at home and abroad and harm the global economy.

Worried investors have sold off stocks aggressively for more than a month, wiping nearly $5 trillion off the value of US stocks since mid-February.

US President Donald Trump stated that he believes there are “ways” to seek a third term, despite the constraints imposed by the 22nd Amendment to the US Constitution.

The White House declared that Wednesday, April 2, will be one of the most important days in US history, noting that the scams against us have ended. President Donald Trump has made his decision on tariffs and will announce it tomorrow, Wednesday.

White House spokeswoman Carolyn Leavitt said that President Trump will take historic action on Wednesday to improve American competitiveness, adding that Trump is focused on fulfilling his great commitment to keeping the American people safe and defending our country.

She confirmed, in a public statement to reporters, that companies that choose to invest and manufacture in the United States will not pay any tariffs. Global surveys on Tuesday showed that factories across the world, from Japan to Britain to the United States, saw a decline in activity in March as companies prepared for new US tariffs. However, some saw a recovery in the race to get goods to customers before the new measures are implemented.

The World Trade Organization hopes to mitigate the aftershocks of US tariffs, whose protectionist intentions conflict with the organization’s free trade mandate.

“Liberation Day” is a term used by President Trump to refer to April 2, 2025, when he intends to announce the imposition of tariffs on US trading partners, aiming to correct what he considers unfair trade practices that have negatively impacted the US economy.