Today, U.S. President Donald Trump took to his social platform, Truth Social, to declare, 'It's Liberation Day in America.' At 4:00 PM U.S. time (1:30 AM IST), he will present the new tariffs in the Rose Garden alongside his cabinet members.
Trump's Tariffs Announcement Today
Trump promises that his revamped trade policies will save America from being exploited and lead the country into a 'Golden Era'. On Tuesday, the White House clarified that these new tariffs will be enacted immediately following President Trump’s pronouncement. The aim of these tariffs is to counter 'unfair trade practices' that have harmed American workers and industries.
Source: aajtak
'America was the Piggy Bank for the World for Too Long'
During a press conference, Trump stated, 'For a long time, America was the piggy bank of the world. Today, we are reclaiming control. It's our liberation day—freedom from unfair trade deals, hefty tariffs on American goods, and policies damaging our businesses and workers.'
Ripple Effects of Trump's Declaration on Multiple Countries
The Trump administration's decision will impact major trade partners such as China, the EU, India, Japan, Mexico, and Canada. The announcement has stirred global markets, and several nations have hinted at potential countermeasures, escalating fears of a new global trade war.
