Donald Trump has dubbed Wednesday April 2, 2025, "Liberation Day." What is it, and how does it apply to tariffs in the United States?

Trump has repeatedly called April 2 "Liberation Day." He is expected to enact reciprocal tariffs on major trading partners, especially those that contribute the most to the $1.2 trillion U.S. trade deficit.

All U.S. imports face a baseline 10% tariff, effective Saturday. + Higher rates will apply to partners judged "bad actors" on trade. For example, Japan faces a 24% duty and the European Union faces a 20% levy,

The Trump administration is planning to impose a round of fresh tariffs on April 2, a day President Trump has dubbed " Liberation Day. " The announcement is viewed by economists as the culmination of his "America First Trade Policy," an executive order he signed on his first day in office aimed at revitalizing U.S. manufacturing.

Some countries are promising swift countermeasures; others are asking for an opportunity to negotiate with the U.S. to avoid trade war.

Democratic California Gov. Gavin Newsom said Friday he’s seeking direct trade agreements with foreign governments to spare his state from

U.S. stocks plummeted by market close on Friday as President Donald Trump’s sweeping tariffs continue to rattle markets across the

Plans to lower egg prices could be disrupted by tariffs. The Trump administration in March said it would import eggs from other countries to offset price increases in the U.S. Tariffs, though, could result in higher prices,

A group of volcanic islands located near Antarctica and whose only inhabitants are colonies of penguins and seals is listed among foreign states subject to U.S. trade tariffs.