President Donald Trump is set to unveil his long-anticipated tariff plan on April 2, which he has dubbed “Liberation Day.” White House press secretary Karoline Leavitt confirmed that the announcement would take place in the Rose Garden, with the full cabinet in attendance.
While details remain unclear, Leavitt suggested the plan could include reciprocal tariffs, matching foreign tariffs dollar for dollar. She cited high levies, such as Canada’s 250% tariff on American dairy, as justification. Trump has floated tariffs on industries including lumber, copper, pharmaceuticals, and microchips, though specifics have fluctuated.
Economic analysts warn that these tariffs could raise consumer costs and slow growth. Trade adviser Peter Navarro estimates $600 billion in annual revenue, but experts argue tariffs may reduce spending, worsening inflation and recession risks. Trump insists the move will protect American workers, but markets remain wary of the potential fallout.
