WATCH LIVE: Trump tariffs announcement on ‘Liberation Day’ at The White House

After weeks of White House hype and public anxiety, President Donald Trump is set on Wednesday to announce a barrage of what he calls reciprocal tariffs on friend and foe alike. The event takes place at 4pm ET / 1pm PT in The Rose Garden at The White House.

The new tariffs, coming on what Trump has named “Liberation Day,” are a bid to boost U.S. manufacturing and punish other countries for what he says are years of unfair trade practices. But by most economists’ assessments, the move threatens to plunge the economy into a downturn and upend decades-old alliances.

The White House is exuding confidence despite the political and financial gamble.

“April 2, 2025, will go down as one of the most important days in modern American history,” White House press secretary Karoline Leavitt said Tuesday. She said the new tariffs would take effect immediately.

Details of Trump’s tariff plans were unclear hours before the president’s scheduled afternoon speech. The S&P 500 stock index was up slightly in Wednesday trading as investors hoped to have more certainty about his agenda.

The tariffs are expected to follow similar recent announcements of 25% taxes on auto imports; levies against China, Canada and Mexico; and expanded trade penalties on steel and aluminum. Trump has also imposed tariffs on countries that import oil from Venezuela and he plans separate import taxes on pharmaceutical drugs, lumber, copper and computer chips.

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Author: FOX 13 Seattle
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News post in at: April 3, 2025, 6:00 am.

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