US President Donald Trump is prepared to trigger uncertainty in the global economy with his series of unexpected tariff related announcements on Wednesday. The April 2 event in Washington DC, dubbed as 'Liberation Day' by Trump, would result in reciprocal tariffs being imposed by the US on other nations, including India.
The orders would come into effect immediately after the US President's announcement, aimed at stimulating the American economy, as suggested by Trump on numerous occasions. Since assuming the White House on Jan. 20., Trump has been threatening allies with tariff hikes. He complained that the international trade scales are not titled in the US' favour, and are costing the US economy a fortune. His tariff hike plan is part of the "Make America Great Again" agenda, which was a core policy of his November election campaign.
What Is The Liberation Day Plan Proposed By Donald Trump?
On Feb. 13, Trump had first announced his intentions to levy reciprocal tariffs on countries like India. The objective behind this decision is to match tariffs with its trade partners for "fairness", Trump said. He has also imposed a number of duties on neighbours such as Canada, and hiked import taxes on products like aluminium and auto parts.
In a post shared on X on Wednesday, White House accused India, European Union, China and Canada of "ripping off" the US through the existing trade policies. The post cornered India over its imposition of "100% tariff on American agricultural products.'
In a video shared by the White House, Press Secretary Karoline Leavitt, accused these regions of "unfair" trade practices. She argued that high tariffs imposed by these countries and the EU make it "virtually impossible" for US products to be imported in these markets. "So, it's time for reciprocity and the president to do what's right for the US people," she added.
.@PressSec on unfair trade practices on the U.S.:
đŸ¥› 50% tariff from the EU on American dairy
đŸ“ˆ 700% tariff from Japan on American rice
đŸŒ½ 100% tariff from India on American ag products
đŸ§ˆ 300% tariff from Canada on American butter & cheese
T-1 DAY UNTIL LIBERATION DAY! pic.twitter.com/EzYqL42efJApril 2, 2025AdvertisementThe post also mentioned "until Liberation Day", indicating that tariffs on these particular countries are expected to be announced by Trump during Wednesday's event.
Trump Tariff Announcement Date And Time
The US President is set to address the world Wednesday local time, announcing his move to impose new duties on other nations that could upend the global trade system. Trump's address will be made from the White House Rose Garden, scheduled for 8:00 p.m. GMT. This means that the announcement will take place at 1:30 a.m. IST on April 3.
Trump Tariff Announcement Live Streaming Details
The live broadcast will be available to watch on the social media handles of the White House. Trump's official social media handles are also expected to broadcast the address. The live streaming of Trump's speech will be available on NDTV Profit YouTube channel.
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