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| Trump rolls out sweeping new tariffs | Trump rolls out sweeping new tariffs |
| (32 minutes later) | |
| The so-called Liberation Day plan sets out broad, country-specific duties on US trading partners | The so-called Liberation Day plan sets out broad, country-specific duties on US trading partners |
| US President Donald Trump on Wednesday announced a new round of sweeping tariffs, part of what he has branded his ‘Liberation Day’ plan, raising concerns over a potential global trade war. | US President Donald Trump on Wednesday announced a new round of sweeping tariffs, part of what he has branded his ‘Liberation Day’ plan, raising concerns over a potential global trade war. |
| Washington is introducing customs duties on all countries based on the principle of reciprocity, Trump has announced, calling it a day of economic independence for the United States. | |
| The president confirmed that the 25% global tariffs on cars and trucks will take effect as scheduled on Thursday, while duties on imported automotive parts is set to begin on May 3. | |
| In his speech at the Rose Garden, Trump complained that “none of our companies are allowed to go into other countries.” | |
| “That’s why, effective at midnight, we will impose a 25% tariff on all foreign-made automobiles,” he declared. | |
| Trump claimed the reciprocal tariffs would usher in a “golden age” for the country, adding that “jobs and factories will come roaring back.” | |
| pic.twitter.com/v5WMU5wofc | |
| Trump said Washington would implement “kind” reciprocal tariffs on all countries amounting to “approximately half” of what those nations charge the US. | |
| “We will supercharge our domestic industrial base” and “break down” trade barriers abroad, he vowed, noting that ultimately this would mean lower prices for consumers. | |
| DETAILS TO FOLLOW | DETAILS TO FOLLOW |