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.
