President Donald Trump will roll out what seems his biggest trade policy yet, reciprocal tariffs, naming Wednesday as “Liberation Day” for American trade—though he’s sowed confusion on what countries and goods will be included,
President Trump announced sweeping levies on countries across the world. Washington’s partners have been bracing for the fallout.
Europe has “a strong plan” for striking back at the United States in response to Donald Trump’s tariff hikes “if necessary,” a top official said Tuesday on the eve of a long-anticipated announcement of massive import levies by the US president.
Trump is calling his tariff policy "kind reciprocal," saying he could've been much harsher on US trading partners.
Service sectors make up the vast bulk of the American economy, which gives trading partners some clout in trade negotiations.
Trump made his way back to the White House in no small part because of his promise to better the economy. He's staking a large part of his agenda on broad-based tariffs.
Explore more
Financial markets declined markedly after President Donald Trump unveiled steeper-than-expected retaliatory tariffs.
Some metal recycling companies stand to benefit from Trump’s steel and aluminum duties, but they fear any boost could be blunted by foreign countermeasures.