President Donald Trump has labeled April 2 âLiberation Day,â ahead of his promise to impose what he calls âreciprocal tariffsâ on all countries that day.
The U.S. will match what other countries charge to import American goods into their countries. Itâs unclear whether Trump plans to levy individual tariff rates on all U.S. trading partners, put tariffs on only some countries or apply a universal tariff on all imports.
It is also unclear whether the 25% tariffs on Canadian and Mexican goods that Trump paused on March 6 will go into effect.
Trump granted a one-month tariff delay until April 2 on all Mexico and Canada products covered by the United States-Mexico-Canada Agreement free trade treaty. About 50% of imports from Mexico and 36% of imports from Canada are covered under the agreement.
