The White House confirmed on Tuesday that President Donald Trump will impose a new wave of tariffs on Wednesday, escalating fears of a deepening global trade war. The announcement, set for 4 p.m. ET in the Rose Garden, marks the culmination of weeks of warnings and speculation.
White House spokeswoman Karoline Leavitt said the plan includes reciprocal tariffs on countries that impose duties on U.S. goods—effective immediately—and a 25% tariff on auto imports, taking effect on April 3. Treasury Secretary Scott Bessent told lawmakers the reciprocal tariffs will act as a cap, subject to change if foreign governments meet U.S. demands.
Trump has labelled April 2 as “Liberation Day,” casting the move as a reset of America’s global trade position. He argues that lopsided deals have fuelled a $1.2 trillion trade deficit and undercut U.S. workers and manufacturers.
The details of the tariffs remain closely held. Reports suggest the administration is considering duties of about 20% on imports from most nations. Another option involves a more targeted tariff package. Aides have floated the idea of redistributing tariff revenue—projected at over $6 trillion—as rebates to Americans.
While the White House dismissed advance reporting as speculation, the announcement has already triggered global concern.
Canada’s Prime Minister Mark Carney vowed retaliation, saying Canadian producers wouldn’t be left behind. He discussed coordinated resistance with Mexican President Claudia Sheinbaum, highlighting the need to defend North American competitiveness without sacrificing sovereignty.
In the U.S., businesses and households are bracing. Economists at the Federal Reserve Bank of Atlanta said tariffs are expected to increase prices and reduce hiring. The Yale University Budget Lab estimates a 20% tariff would cost the average household at least $3,400.
Wall Street has already reacted. Nearly $5 trillion in market value has been wiped out since mid-February, as investors anticipate trade disruptions and higher inflation. The Institute for Supply Management reported falling U.S. manufacturing activity in March, while input costs hit a three-year high. Factory managers cited tariffs as the main threat.
Globally, factories in Britain, Japan, and the U.S. saw activity slump last month as firms rushed to ship goods ahead of potential duties.
Trump remains unmoved. His administration says the tariffs are the price of restoring American dominance and protecting industries from decades of “unfair” global competition. Whether the world accepts the cost is another matter.
Taiwan has reported a sharp increase in Chinese military activity as Beijing concluded two days of war games around the island, intensifying tensions across the Taiwan Strait.
Hunter Biden has voluntarily surrendered his license to practice law in Washington, D.C., following criminal convictions that raised questions about his professional eligibility.
Brazil has named automotive industry executive Dan Ioschpe as its official “climate champion” for the COP30 summit, to be held in Belém this November.
Within hours of Trump’s “Liberation Day” speech, a chorus of global voices began responding — some cautiously, others furiously. While the U.S. president promised to rebalance what he called “decades of economic exploitation,” world capitals began drawing their own red lines.
Standing in the White House Rose Garden, President Donald Trump declared what he called “Liberation Day”, announcing a raft of tariffs on U.S. trading partners — the most expansive use of trade powers in modern American history.
Taiwan has reported a sharp increase in Chinese military activity as Beijing concluded two days of war games around the island, intensifying tensions across the Taiwan Strait.
Hunter Biden has voluntarily surrendered his license to practice law in Washington, D.C., following criminal convictions that raised questions about his professional eligibility.
Brazil has named automotive industry executive Dan Ioschpe as its official “climate champion” for the COP30 summit, to be held in Belém this November.
Within hours of Trump’s “Liberation Day” speech, a chorus of global voices began responding — some cautiously, others furiously. While the U.S. president promised to rebalance what he called “decades of economic exploitation,” world capitals began drawing their own red lines.
Standing in the White House Rose Garden, President Donald Trump declared what he called “Liberation Day”, announcing a raft of tariffs on U.S. trading partners — the most expansive use of trade powers in modern American history.
Aid groups in Myanmar’s worst-hit areas urgently need shelter, food, and water after a devastating 7.7 magnitude earthquake killed over 2,700 people. Rescue efforts face challenges due to ongoing civil war, damaged infrastructure, and restricted aid access, with the toll expected to rise.
Russian forces carried out a drone attack on Ukraine’s second-largest city, Kharkiv, late Wednesday, injuring at least twenty one people and causing structural damage, according to Ukrainian officials.
French far-right leader Marine Le Pen was banned from running for public office for five years after being convicted of embezzlement, ruling her out of the 2027 presidential race. She received a four-year prison sentence, with two years suspended, and a €100,000 fine. Le Pen plans to appeal.
Apple marked its 49th anniversary by reaching a market capitalization of $3.3 trillion. Despite recent tech stock volatility, Apple's shares surged 28% in 2024.
The Armenian armed forces attempted three reconnaissance drone flights over Azerbaijan Army positions near Gerenzur, but all were successfully intercepted. Meanwhile, Armenian units repeatedly fired on Azerbaijani positions from multiple regions, escalating tensions in the area.
Taiwan has reported a sharp increase in Chinese military activity as Beijing concluded two days of war games around the island, intensifying tensions across the Taiwan Strait.
Hunter Biden has voluntarily surrendered his license to practice law in Washington, D.C., following criminal convictions that raised questions about his professional eligibility.
Within hours of Trump’s “Liberation Day” speech, a chorus of global voices began responding — some cautiously, others furiously. While the U.S. president promised to rebalance what he called “decades of economic exploitation,” world capitals began drawing their own red lines.
Standing in the White House Rose Garden, President Donald Trump declared what he called “Liberation Day”, announcing a raft of tariffs on U.S. trading partners — the most expansive use of trade powers in modern American history.
Danish Prime Minister Mette Frederiksen has firmly pushed back against U.S. President Donald Trump’s renewed interest in acquiring Greenland, declaring that the Arctic island “belongs to the Greenlanders.”
Taiwan has reported a sharp increase in Chinese military activity as Beijing concluded two days of war games around the island, intensifying tensions across the Taiwan Strait.
Hunter Biden has voluntarily surrendered his license to practice law in Washington, D.C., following criminal convictions that raised questions about his professional eligibility.
Brazil has named automotive industry executive Dan Ioschpe as its official “climate champion” for the COP30 summit, to be held in Belém this November.
Within hours of Trump’s “Liberation Day” speech, a chorus of global voices began responding — some cautiously, others furiously. While the U.S. president promised to rebalance what he called “decades of economic exploitation,” world capitals began drawing their own red lines.
Standing in the White House Rose Garden, President Donald Trump declared what he called “Liberation Day”, announcing a raft of tariffs on U.S. trading partners — the most expansive use of trade powers in modern American history.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment