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.
“Hard-working American citizens were forced to sit on the sidelines while other nations got rich… Now it’s our turn,” Trump said, holding up a chart of reciprocal levies targeting more than 60 countries.
A 10% baseline tariff on all U.S. imports takes effect this Saturday, with harsher, customised tariffs for countries with what the White House called “massive non-tariff barriers.”
White House documents list steep new tariffs, many of them on top of existing duties. Among the highest:
🇨🇳 China: 54%
🇻🇳 Vietnam: 46%
🇮🇳 India: 26%
🇹🇼 Taiwan: 32%
🇯🇵 Japan: 24%
🇰🇷 South Korea: 25%
🇪🇺 European Union: 20%
🇬🇧 United Kingdom: 10%
🇰🇭 Cambodia: 49%
Canada and Mexico are temporarily exempt from the new plan, as existing 25% tariffs tied to fentanyl and migration remain in place.
Steel, aluminium, auto parts, and pharmaceuticals already subject to tariffs will be exempt. So will energy, copper, semiconductors, and bullion not sourced domestically.
Inside Trump’s Cabinet, officials rallied around the policy.
Homeland Security Secretary Kristi Noem called it “strong action to make America safe again.”
National Security Adviser Mike Waltz echoed Trump’s framing: “Economic security is national security.”
Speaker Mike Johnson said the U.S. “will not be exploited by unfair trade practices anymore.”
But Wall Street reacted less enthusiastically.
Nasdaq futures fell 2.5%
FTSE 100 slid 0.7%
Brent crude dropped 1% before stabilising
Gold hit a new record above $3,100/oz as investors fled to safety
Auto stocks slumped across the board — Ford, GM, Stellantis and Tesla all saw losses in after-hours trading.
British officials are portraying the 10% tariff on UK exports as “a good outcome” — relieved to have avoided the harsher penalties levied on the EU.
“Nobody wants a trade war,” said Business Secretary Jonathan Reynolds, who confirmed the UK would “keep calm, keep negotiating.”
“But nothing is off the table… we will act if needed.”
Trump’s strategy is a throwback to protectionist America — invoking pre-1913 tariff policies, and blaming the Great Depression on the abandonment of that model.
“We used to be a tariff-backed nation. We were the richest we’ve ever been,” Trump said.
“This isn’t full reciprocal. This is kind reciprocal.”
But economists warn that retaliation is coming, and fast.
“This is worse than we feared,” said Mary Lovely of the Peterson Institute.
“The consequences for global trade routes could be huge.”
The Peterson Institute and other analysts expect consumer prices to rise, particularly in electronics, food, textiles, and transport. Supply chains may fragment as nations reroute trade flows away from U.S. ports.
By invoking a national emergency and using the International Emergency Economic Powers Act, Trump bypassed Congress and seized executive control over trade.
The move is both strategic and risky:
The economic pain could come fast.
The political gain, if any, could take years.
“We are being kind,” Trump said. “But if they want to lower their barriers, we’ll talk. If not, they’ll pay.”
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China’s growing use of electric and hydrogen-powered vehicles took centre stage at the Beijing Auto Show 2026, which opened on 24 April, highlighting the country’s expanding clean transport ambitions.
More than 1,000 firefighters are battling to contain two major wildfires in northern Japan for a fourth consecutive day, as flames advance towards residential areas and force thousands to flee.
Residents in central Gaza are preparing to vote in municipal elections on Saturday (25 April), marking the first ballot in the Strip since 2006. The vote in Deir al-Balah is being watched closely as a rare indication of public sentiment, including towards Hamas.
Militants have staged coordinated attacks in Mali’s capital, Bamako, and several locations across the country, the army said on Saturday (25 April), in an assault apparently involving jihadist and Tuareg-led groups.
Argentina has reiterated its interest in resuming talks with the United Kingdom over the Falkland Islands, a disputed archipelago in the South Atlantic, after reports that an internal Pentagon email suggested reviewing Washington’s support for the UK’s claim amid tensions over the Iran war.
Diplomatic efforts to end the Iran war are intensifying, with the White House confirming that U.S. President Donald Trump will send special envoy Steve Witkoff and adviser Jared Kushner to Islamabad for talks with Iran under Pakistani mediation.
Russian emergency services have contained a major fire at the Tuapse oil refinery on the Black Sea coast, local officials said on Thursday, ending a four-day effort after a Ukrainian drone strike.
Ukrainian President Volodymyr Zelenskyy is in Azerbaijan for talks with President Ilham Aliyev, holding meetings in Gabala on Saturday (25 April) during a working visit to the country.
Slovenia’s national broadcaster RTV Slovenia has confirmed it will not air the Eurovision Song Contest 2026, joining a widening boycott over Israel’s participation.
More than 1,000 firefighters are battling to contain two major wildfires in northern Japan for a fourth consecutive day, as flames advance towards residential areas and force thousands to flee.
Militants have staged coordinated attacks in Mali’s capital, Bamako, and several locations across the country, the army said on Saturday (25 April), in an assault apparently involving jihadist and Tuareg-led groups.
Two men were killed after the United States carried out a missile strike on a suspected drug-trafficking boat in the eastern Pacific Ocean on Friday (24 April), the military said.
Argentina has reiterated its interest in resuming talks with the United Kingdom over the Falkland Islands, a disputed archipelago in the South Atlantic, after reports that an internal Pentagon email suggested reviewing Washington’s support for the UK’s claim amid tensions over the Iran war.
China has urged the European Union to take its concerns seriously over new cybersecurity and digital regulations, warning they could create difficulties for Chinese companies operating in Europe.
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