Trump Announces 'Liberation Day' Tariff Plan Amid Global Trade Tensions

President Trump revealed India's potential tariff reductions on U.S. products and announced a new U.S. tariff plan. Despite global trade concerns, Trump remains optimistic, citing European tariff reductions as evidence. The specifics of the new plan, set to be unveiled on 'Liberation Day', remain uncertain.

President Donald Trump has indicated that India is expected to significantly lower its tariffs on American products, a move he suggests was overdue. Speaking on Tuesday, Trump remarked, 'I think I heard that India just a little while ago is going to be dropping its tariffs very substantially and I said why didn't somebody do this a long time ago.'

When questioned about potential international repercussions of his own tariff impositions, set to take effect on Wednesday, Trump confidently asserted that these tariffs could benefit countries otherwise accused of leaning towards China, although he did not provide specific explanations on how this would occur. 'No, I'm not worried about it. I think they have a chance of doing better actually with the tariffs,' he stated.

Trump also highlighted the European Union's recent decision to decrease tariffs on U.S.-manufactured cars to 2.5%, suggesting a shift towards American trade interests. He plans to outline a new tariff strategy on April 2, which he has termed 'Liberation Day', during a Rose Garden press conference, marking a significant development in his second term. White House Press Secretary Karoline Leavitt confirmed the event, noting full cabinet participation and describing the plan as a response to decades of unfair trade practices.

(With inputs from agencies.)