Trump's reciprocal tariffs: What we know and how it could impact inflation, markets and more
President Donald Trump is expected to roll out the largest set of new trade barriers in generations Wednesday — calling it “Liberation Day” — shortly after U.S. stock markets close.
President Donald Trump is expected to roll out the largest set of new trade barriers in generations Wednesday — calling it “Liberation Day” — shortly after U.S. stock markets close.
What exactly Trump has in store, and how it will impact the economy, still isn’t fully known. He’s already announced his intention to impose tariffs on imported autos and auto parts, and he suggested the fresh duties would be both reciprocal with other nations and target specific sectors like pharmaceuticals and computer chips.
Trump’s announcement is expected at 4 p.m. at the White House Rose Garden. But the ongoing doubt about exactly what Trump would decide on — he and his team were reportedly still debating major elements of the tariffs in the days and hours before the president’s announcement — has generated unease and confusion among businesses and consumers alike.
Though Trump was elected because of his perceived ability to jolt the economy, he also spent much of his election campaign promising to impose tariffs.
The latter appears to be winning out — a reality that seems to have stunned economists, the business community and consumers, many of whom are his own voters.
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