Trump Declares 'Liberation Day' As He Prepares Major Tariff Plan Targeting Nearly All U.S. Trading Partners With Reciprocal Duties

Benzinga

Trump is expected to announce a sweeping new set of tariffs on Wednesday, which he’s dubbed “Liberation Day," according to the Associated Press. The move aims to reduce U.S. dependence on foreign goods. The plan reportedly includes “reciprocal” tariffs on nearly all American trading partners to match the duties they impose on U.S. exports. While the exact implementation remains unclear, White House Press Secretary Karoline Leavitt said final details would come directly from Trump. Trump says tariffs protect U.S. industries and boost leverage, but economists warn his proposed rates could backfire.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02President Trump is expected to announce a sweeping new set of tariffs on Wednesday,

00:05which he's dubbed Liberation Day, according to the Associated Press.

00:09The move aims to reduce U.S. dependence on foreign goods.

00:13The plan reportedly includes reciprocal tariffs on nearly all American trading partners

00:18to match the duties they impose on U.S. exports.

00:21While the exact implementation remains unclear,

00:25White House Press Secretary Caroline Leavitt said

00:28final details would come directly from President Trump.

00:31Trump says tariffs protect U.S. industries and boost leverage,

00:34but economists warn his proposed rates could backfire.

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