Trump's Global Tariff Strategy: A 'Liberation Day' Plan

U.S. President Donald Trump plans to announce a sweeping set of reciprocal tariffs this week, termed 'Liberation Day.' The tariffs will target all nations, not just a select few, with the goal of matching duties imposed on U.S. exports. Trump may adjust tariffs for certain countries.

U.S. President Donald Trump revealed on Sunday that the impending reciprocal tariffs would be comprehensive, affecting all countries rather than a selective group. This move is part of a 'Liberation Day' strategy to be announced on Wednesday.

Previously, Trump has imposed tariffs on industries such as aluminum, steel, and automobiles, alongside heightened tariffs on Chinese imports. The new measure aims to impose reciprocal tariffs on nations that levy duties on U.S. exports.

Earlier this year, Trump instructed U.S. trade authorities to compile a list of counter-measures tailored to each country. Additionally, Trump hinted at the possibility of scaling down reciprocal tariffs, aligning them more closely with rates charged by foreign nations.

(With inputs from agencies.)