Why April 2 Is ‘Liberation Day’: What Time Will Trump Announce Reciprocal Tariffs in India

According to a news report, April 2 has been coined as ‘Liberation Day’ by US President Donald Trump, marking a pivotal moment in his administration’s trade agenda. With a press conference scheduled for 4 pm Eastern Time (2000 GMT / 1.30 am IST on April 3) from the White House Rose Garden, the announcement is expected to usher in sweeping tariff measures aimed at rebalancing the country’s trade relationships.

The initiative, touted by Trump for years, is positioned as a strategy to reduce America’s dependence on foreign imports and foster domestic production.

What Will Be Announced?

According to the White House press secretary Karoline Leavitt, reciprocal tariffs will be introduced targeting countries that impose duties on US goods. Although detailed specifics remain undisclosed, it has been confirmed that a 25% tariff on automobile imports will be enacted starting April 3.

In addition, a separate 25% duty is to be applied to imports from countries that purchase oil or gas from Venezuela, including the US itself. These measures are intended to take immediate effect post-announcement.

Rather than targeting individual nations, reports suggest that the administration is contemplating a uniform average tariff of 20% across products from nearly all countries.

Previous Tariffs and the New Wave

This isn’t the first time President Trump has introduced protectionist trade measures. Previous tariffs on steel and aluminium, along with increased duties on Chinese imports, have laid the groundwork for the current strategy.

Treasury Secretary Scott Bessent described the upcoming tariffs as a “cap”—with the possibility of reductions if trading partners respond by lowering their own duties on American goods.

White House trade adviser Peter Navarro has projected that the new tariff regime could generate up to $600 billion annually.

Impact on Consumers and Businesses

While the tariffs may generate revenue and aim to strengthen domestic industries, economists have raised concerns about their broader impact.

Higher import duties are likely to increase costs for businesses reliant on foreign goods, which could translate into elevated consumer prices and inflationary pressures. A recent survey by the Federal Reserve Bank of Atlanta indicates that corporate executives foresee a potential slowdown in hiring and overall economic growth as a consequence.

Supply chain disruptions, particularly in industries dependent on global sourcing, could also become more prominent.

Global Response and Diplomatic Tensions

Unsurprisingly, the proposed tariffs have triggered strong reactions from major US trade partners. Canadian Prime Minister Mark Carney declared that Canada would implement countermeasures to safeguard its own industries and workers. He also engaged in talks with Mexican President Claudia Sheinbaum, focusing on a united response to what they describe as “unjustified trade actions” from the US.

This growing tension suggests that while the US pursues economic reform, international diplomacy could face further strain.

Spotlight on India and Other Allies

President Trump has singled out India as one of the countries expected to lower its tariffs significantly in response to his measures. Speaking from the White House Oval Office, he expressed optimism that many US allies would follow suit, pointing to the European Union’s recent tariff reductions as validation of his approach.

“I heard that India is going to be dropping its tariffs substantially,” Trump stated, reiterating his belief that the US has been at a disadvantage in global trade for far too long.

Conclusion

April 2 may indeed prove to be a defining moment for international trade relations. Whether it leads to broader economic recalibrations or escalates into prolonged disputes remains to be seen. As the world watches closely, the full implications of the US’s shift towards reciprocal tariffs will unfold in the months ahead.

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