Trump Declares ‘Liberation Day,’ Announces Immediate Tariffs

Major Tariffs Take Effect at Midnight

President Donald Trump officially rolled out sweeping new tariffs, calling April 2 “Liberation Day” for the U.S. Speaking in the Rose Garden, he announced immediate tariffs on foreign-made automobiles and a 10% baseline tariff on nearly all imported goods. Countries that fail to comply with the USMCA agreement face a 25% tariff.

Targeting Trade Partners

Trump vowed to shake up the U.S. economy from the start of his presidency. He created the Department of Government Efficiency (DOGE), led by Elon Musk, to slash federal costs. He also signed an executive order imposing steep tariffs on major trade partners.

The European Union, Canada, Mexico, and China have been at the center of the trade dispute. The president first imposed a 25% tariff on many of their imports. Now, he is expanding tariffs to foreign-made cars and goods worldwide.

Trump: “This Is Economic Independence”

Marking this as a historic moment, Trump declared:

“April 2, 2025, will forever be remembered as the day American industry was reborn, America’s destiny was reclaimed, and we began to ‘Make America Wealthy Again.'”

He blamed past administrations for economic losses and accused both allies and rivals of exploiting U.S. workers.

Harsh Words for Trade Policies

Trump criticized foreign nations for charging higher tariffs on American goods. He called out:

Thailand: 60% tariffs on U.S. motorcycles
India: 70%
Vietnam: 75%

He also took a jab at U.S. trade partners for blocking American exports:

The EU: Rejects American poultry
Australia: Won’t buy U.S. beef
China, Japan, South Korea: Restrict American rice imports

“They charge us, we charge them. How can anybody be upset?” he argued.

Immediate Action on Foreign-Made Cars

Starting midnight, the U.S. will impose a 25% tariff on all foreign-made automobiles. Trump slammed the EU and Asia for their high vehicle tariffs, insisting the U.S. needs to respond.

Meanwhile, countries producing goods in the U.S. will face no tariffs.

New Tariff Breakdown

All foreign goods: 10% baseline tariff (effective April 9, 12:01 AM ET)
Non-USMCA countries: 25% tariff
UK imports: 10% tariff
EU goods: 20% tariff

Trump said the new tariffs stop foreign nations from “ripping off” the U.S. While he called them “reciprocal”, he admitted they weren’t “fully reciprocal” to avoid major disruptions.