Problem with Trump's 'Liberation Day' tariffs
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President Trump announced sweeping tariff hikes on April 2, 2025, citing inflated claims of foreign tariffs on U.S. goods as justification.
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U.S. companies, such as the Magnificent Seven, will face higher costs on the raw materials and finished goods they import.
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Trump also slammed China, which retaliated against his sweeping tariff policy Friday with a new 34% tariff on U.S. goods.
The Trump administration’s latest trade offensive is underway as Customs and Border Protection (CBP) begins enforcing “Liberation Day" tariffs, pulling in more than $200 million a day.
3don MSN
Vietnam had a trade surplus of $123.5 billion with the U.S. last year, leading analysts to warn earlier this year that the country was most at risk. Hanoi had tried to win itself a reprieve by preemptively cutting import duties in the lead-up to April 2.
Trump has championed his tariffs despite a historic selloff across U.S. markets, claiming his levies would bring in “billions.”
President Donald Trump announced reciprocal tariffs and a 25% tariff on car imports on his much-anticipated "Liberation Day" tariff rollout.