Tariffs, Liberation Day, and Trump's Trade Moves
By the time you read this, we might already know what Donald Trump’s tariffs look like on what’s being dubbed “Liberation Day.” This marks a long-promised moment where Trump seeks to impose reciprocal tariffs on countries that have trade barriers against the U.S., especially focusing on value-added taxes (VATs), which he sees as unfair. The plans remain murky, and we've seen conflicting reports — will it be a blanket tariff? Will there be waivers?
Countries like China, Korea, and Japan seem to be aligning economically to prepare for the fallout, while Europe has threatened retaliation. Israel, interestingly, has waived tariffs on American goods, presumably to avoid being targeted. Treasury Secretary Scott Besant has told lawmakers that whatever is announced represents a ceiling, not a floor — meaning tariffs could be revised down, but not up.
Let me be clear: just because that’s what’s planned doesn’t mean that’s what will happen. Anything is possible under Trump. His economic advisors are locked in internal battles over how aggressive these tariffs should be, and that chaos has spilled into the press. Meanwhile, Wall Street is jittery, with the S&P 500 already feeling the tremors.
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