As U.S. President Donald Trump prepares to unveil his reciprocal tariff plan on April 2, trade tensions continue to escalate, reports Wyatte Grantham-Philips of the Associated Press. Trump’s plan aims to impose tariffs on nearly all American trading partners to reduce U.S. reliance on foreign goods. They write:
As the trade wars launched by U.S. President Donald Trump continue to escalate, all eyes are on Wednesday.
Trump has repeatedly called April 2 “Liberation Day,” with promises to roll out a set of tariffs, or taxes on imports from other countries, that he says will free the U.S. from a reliance on foreign goods. To do this, Trump has said he’ll impose “reciprocal” tariffs to match the duties that other countries charge on U.S. products. […]
We’ll potentially see more retaliatory announcements this week, particularly if Trump confirms more details of sweeping reciprocal tariffs on Wednesday.
Read more here.
