U.S. Tariff Turmoil: Unpacking Trump's Global Trade Gambit

The White House is planning to implement a 20% tariff on $3 trillion worth of imports as President Trump prepares to intensify global trade tensions. With an April 2 announcement looming, concerns grow over the potential economic impact, while global markets react apprehensively to the ongoing trade uncertainty.

WASHINGTON, April 1 (Reuters) - The White House is reportedly preparing to impose a 20% tariff on $3 trillion of U.S. imports, an ambitious move by President Trump that threatens to escalate global trade tensions. The Washington Post disclosed these plans, stirring concerns among businesses, investors, and consumers.

The proposed tariffs, anticipated to be unveiled by April 2, aim to challenge half a century of international trade norms. President Trump's strategy, declared as "Liberation Day," focuses on addressing perceived inequities that disadvantage American goods and workers.

The economic outlook is growing uncertain as signs emerge of the U.S. economy's loss of momentum. Surveys reveal declining confidence, with apprehension about inflation and resurgent tariffs leading to market volatility and a significant drop in U.S. stock values. Global sentiments reflect similar fears, with business activity across Asia and Europe under threat.

(With inputs from agencies.)