On Wednesday, all eyes will be on US President Donald Trump as he unveils a wide plan to impose further tariffs, stoking concerns of renewed and potentially destructive global trade conflicts. The world has been ripping off the United States for the past 40 years and more,” Trump told NBC over the weekend. “All we’re doing is being fair.”
Trump has announced April 2 as “LIBERATION DAY IN AMERICA!” but has yet to provide complete specifics of his proposed tariff package. White House Press Secretary Karoline Leavitt said Tuesday that the president worked closely with his economic staff to finalise the strategy. While campaigning last year, Trump proposed putting a blanket 20% tariff on all imports. According to reports, several of his aides continue to endorse that strategy.
Trump has already announced a 25% tariff on all imported autos and auto parts, which goes into effect Thursday. He has also suggested comparable duties on all imports from Mexico and Canada, but those actions have been postponed owing to continuing negotiations with the governments of these nations.
Wall Street has expressed alarm over the upcoming news. Two of the three major US market indices closed Monday, marking the end of the first quarter of 2025, with their worst result in more than two years.
Also Read:
The Saudi CMA Takes action to Strengthen SPEs’ Debt Issuance Oversight
After Eight Years, Kuwait Re-Enters the Global Debt Markets With a New Borrowing Law
