In a sweeping move, President Donald Trump has declared that the United States will impose tariffs on all countries, marking April 2 as “Liberation Day.” The announcement, made aboard Air Force One, signals a departure from previous discussions of selective tariffs based on trade imbalances and reciprocal measures. “We would start with all countries, so let’s see what happens,” Trump told reporters.
Dispelling Speculation on Limited Tariffs
Rejecting earlier speculation that tariffs would target a limited number of countries, Trump clarified that the policy extends worldwide. “We’ve been talking about all countries—no cutoffs,” he stated, dismissing reports of tariffs affecting only 10 or 15 nations labeled as “unfair traders.” The speculation had arisen following comments from US Treasury Secretary Scott Bessent, who had mentioned a group of nations referred to as the “Dirty 15.”
‘Nicer’ Tariffs for Trade-Offenders
Trump claimed that despite decades of unfair trade practices against the US, his administration’s tariffs would be “far more generous” than the duties imposed by other nations. “They ripped us off like no country has ever been ripped off in history, and we’re going to be much nicer to them than they were to us,” Trump asserted, without specifying comparative figures.
Economic Concerns and Global Response
While Trump’s tariffs on steel, aluminum, and Chinese goods are already in effect, new duties on auto imports are set to begin on April 3. White House trade advisor Peter Navarro has estimated that tariffs on auto imports alone could generate $100 billion annually, with total tariffs expected to yield $600 billion per year.
However, economists caution that imposing tariffs on all imports may lead to inflation, increasing prices for American consumers and potentially triggering an economic slowdown. Meanwhile, nations such as India are working to finalize a trade deal with the US to avoid the impact, while others have warned of retaliatory measures, escalating fears of a global trade war.
Despite economic concerns, Trump remains steadfast in his belief that tariffs will strengthen the US economy. Dismissing expert warnings, he declared, “Tariff is my favorite word in the dictionary—it will make America great again.”
