U.S. President Donald Trump is set to unveil a sweeping new round of tariffs on what he calls “Liberation Day,” a move that could shake up U.S. trade policy and heighten tensions with global partners. With few details known, markets are already bracing for impact.
U.S. President Donald Trump is set to announce a sweeping new round of tariffs at the White House on Wednesday, branding the day as “Liberation Day.”
The move is expected to mark a significant escalation in U.S. trade policy, with immediate implementation and potential global repercussions.
While specific details remain under wraps, White House officials say this will be one of the most extensive overhauls of U.S. trade policy in years. Trump aims to revive domestic manufacturing, combat unfair trade practices, and pressure countries like Mexico and Canada on migration and drug trafficking.
The rollout comes amid growing concern over the administration’s unpredictable approach to tariffs, which has shaken markets and strained relationships with key allies. Canada and the EU have pledged retaliation, with Canada calling the tariffs “unjustified” and Europe preparing a “strong response.”
Trump has floated the idea of “reciprocal tariffs” targeting countries such as Brazil, India, and South Korea, matching the rates they impose on U.S. exports. Also under consideration are broad 25% tariffs on all imports from Mexico and Canada and a 20% across-the-board tariff on global imports.
These would add to existing tariffs: 20% on Chinese imports, 25% on steel and aluminum, and 10% on Canadian energy. A 25% tariff on imported vehicles and parts is scheduled to take effect Thursday.
The economic fallout has already begun. U.S. stock markets saw their worst quarter in over two years, and consumer confidence has plunged. Economists warn of a growing risk of recession, while business leaders are signaling plans to raise prices to offset the added costs.
“It’s the most dramatic shift in confidence I can recall—except when Covid hit,” said Neel Kashkari, President of the Minneapolis Federal Reserve.
Despite internal disagreements within Trump’s team, the administration insists the policy is designed to protect American workers.
But with rising uncertainty and inflation concerns, whether “Liberation Day” brings relief or more disruption remains to be seen.
U.S. President Donald Trump called for a 30-day unconditional ceasefire between Russia and Ukraine, with Ukrainian President Zelenskyy saying Kyiv is ready to comply immediately.
President Trump and UK Prime Minister Keir Starmer unveiled a limited trade deal Thursday that keeps 10% tariffs on British exports but lowers U.S. duties on UK cars and cuts average UK tariffs on U.S. goods to 1.8%, calling it a “historic” step forward.
German Chancellor Friedrich Merz and U.S. President Donald Trump agreed to resolve trade disputes and cooperate on Ukraine during a phone call Thursday evening.
Ukrainian President Volodymyr Zelenskyy spoke with U.S. President Donald Trump by phone about the U.S.-Ukraine minerals agreement after Ukraine’s Parliament ratified it.
From Washington to Rome and beyond, world leaders continue to welcome the election of Pope Leo XIV, recognising the historic nature of the first American pontiff and the hopes it brings for global unity and moral leadership.
Armenian Prime Minister Nikol Pashinyan confidently announced that there will be no war between Armenia and Azerbaijan, emphasizing a shared commitment to a peaceful and prosperous future for the region.
Britain has imposed fresh sanctions on Russia, including asset freezes targeting directors of the oil trading firm Coral Energy Group, now known as 2Rivers Group.
Moscow is currently holding a Victory Day parade to mark 80 years since the end of the Great Patriotic War, with foreign delegations and military units participating.
A helicopter crash in Sri Lanka has resulted in six fatalities, according to military sources cited by AFP on Friday.
President Donald Trump and U.K. Prime Minister Keir Starmer have reached a trade agreement that lowers U.S. tariffs on British autos, steel, and aluminum, while maintaining a 10% baseline tariff on other goods and boosting American exports of beef and ethanol.
India has fired a series of missiles into Pakistani-controlled territory, in what it has described as “Operation Sindoor”
For the first time in history, an American has been chosen to lead the Catholic Church, as Cardinal Robert Prevost is named pope.
Discover every major VE Day 80 event in Britain, 5‑8 May 2025—from London’s parade and fly‑past to street parties, concerts and museum exhibitions.
Chinese e-commerce platform Temu has announced it will no longer sell goods directly from China to U.S. customers, shifting instead to U.S.-based sellers amid the closure of a long-criticized customs loophole.
Cardinals from 70 nations have gathered in Vatican City to begin the historic conclave to elect the next pope, following the death of Pope Francis 17 days ago. This conclave is the most geographically diverse in Church history, showcasing Francis’ legacy of inclusivity.
Britain has imposed fresh sanctions on Russia, including asset freezes targeting directors of the oil trading firm Coral Energy Group, now known as 2Rivers Group.
Moscow is currently holding a Victory Day parade to mark 80 years since the end of the Great Patriotic War, with foreign delegations and military units participating.
A helicopter crash in Sri Lanka has resulted in six fatalities, according to military sources cited by AFP on Friday.
President Donald Trump and U.K. Prime Minister Keir Starmer have reached a trade agreement that lowers U.S. tariffs on British autos, steel, and aluminum, while maintaining a 10% baseline tariff on other goods and boosting American exports of beef and ethanol.
Start your day informed with AnewZ Morning Brief: here are the top news stories for May 9th , covering the latest developments you need to know.
Armenian Prime Minister Nikol Pashinyan confidently announced that there will be no war between Armenia and Azerbaijan, emphasizing a shared commitment to a peaceful and prosperous future for the region.
Britain has imposed fresh sanctions on Russia, including asset freezes targeting directors of the oil trading firm Coral Energy Group, now known as 2Rivers Group.
Moscow is currently holding a Victory Day parade to mark 80 years since the end of the Great Patriotic War, with foreign delegations and military units participating.
A helicopter crash in Sri Lanka has resulted in six fatalities, according to military sources cited by AFP on Friday.
President Donald Trump and U.K. Prime Minister Keir Starmer have reached a trade agreement that lowers U.S. tariffs on British autos, steel, and aluminum, while maintaining a 10% baseline tariff on other goods and boosting American exports of beef and ethanol.
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