Overview

• President Donald Trump will announce 'Liberation Day' tariffs on April 2, imposing 25% duties on automobile imports and 20% on most other imports without exemptions.
• The tariffs target all nations, including key trading partners like the EU, China, Japan, and South Korea, which have announced plans for retaliation.
• Economists warn the tariffs could lead to higher inflation, potential recession, and significant disruptions in global trade and manufacturing supply chains.
• The S&P 500 has experienced its worst quarter since 2022, reflecting market volatility and uncertainty over the tariffs' economic impact.
• The European Union and other nations have prepared strong countermeasures, with the EU planning $28 billion in retaliatory tariffs set to take effect in mid-April.