For weeks, President Donald Trump promoted April 2 as the “Liberation Day” in the United States, when a series of massive tariffs will be announced to comply with the ambitious economic agenda of the administration. However, the plan has remained largely a mystery, as Trump and its administration have presented a series of constantly changing and conflict proposals. Now we know a little more about what we can expect.
Very little: We now know how it will be announced. Perhaps.
Trump will reveal his tariff plan next Wednesday at his first press conference at Rose Garden in his second term, White House press secretary Karoline Leavitt confirmed to journalists on Monday. The cabinet will be present at the event, he added.
“On Wednesday, it will be Liberation Day in America, as President Trump so proudly dubbed him,” Leavitt said. “The president will announce a tariff plan that will reverse the unfair business practices that have been stealing our country for decades. He is doing this in the best interest of the American worker.”
But Leavitt did not provide any details about what Trump would announce. He suggested, as Trump repeatedly said that the president could announce reciprocal tariffs, equaling the fees of other dollar countries per dollar.
Leavitt referred to astronomically high customs customs that some countries apply to American products, such as the 250% right that Canada applies to US dairy products. Although these numbers are often high on paper, they are rates that are probably never charged because countries with ultra -elevated tariffs import very little from the United States.
Still, Leavitt said high tariffs are unfair to Americans and that the United States should charge the same in kind.
“This makes virtually impossible to import American products into these markets and have led many Americans to bankruptcy and unemployment in recent decades,” Leavitt said. “Therefore, it’s time for reciprocity, and it’s time for a president to make a historical change, to do what is right for the American people, and that will happen on Wednesday.”
Leavitt said that ultimately it is up to Trump to decide which tariffs to impose. The president and his counselors have contradicted themselves in recent days and weeks when trying to establish expectations about what would be announced on April 2. All measures were proposed, from reciprocal tariffs to all countries, the imposition of 25% deferred rates on Mexico and Canada, and wood, copper, pharmaceutical products and microchips. Trump has already announced tariffs on cars, which should take effect on 3 April.
But on several occasions, employees and president have launched cold water on their own tariff plans. They suggested, for example, that tariffs on various industries and products could be announced in June. Last week, Bloomberg and the Wall Street Journal reported that reciprocal tariffs on only a handful of countries would come into force. And Trump said last week that the tariffs he plans to announce on Wednesday would be “much more generous” than other countries charge to the United States.
But aboard Air Force One, Trump said his reciprocal tariffs would be placed in all countries as a starting point and then begins to negotiate them down if necessary.
Leavitt assured that Trump continues to discuss plans with his team.
“He has a brilliant team of commercial counselors,” said Leavitt, enumerating Treasury Secretary Scott Bessent, Trade Secretary Howard Lutnick, US commercial representative Jamieson Greer, Senior Advisor Stephen Miller and Vice President JD Vance.
“All of these individuals presented plans to the president about how to do so, and the decision is up to the president,” Leavitt reiterated.
Navarro said on Sunday that he expected the United States to raise $ 600 billion a year with tariff revenues, which would be equivalent to the biggest tax increase since World War II. However, this math is doubtful because tariffs are designed to change Americans’ purchase behavior to buy products that are made in the United States – and avoid paying tariffs. In addition, since economists expect customs rights to increase the costs of a large number of products, some inflation -worried Americans can reduce their discretionary expenses and avoid paying rights to goods they no longer buy.
Ultimately, this could hurt the economy. The threats of customs rights have made consumers’ feeling in recent months, and Goldman Sachs and Jpmorgan Wall Street analysts have said the probabilities of a US recession are increasing.
