Trump tariffs live updates: Tariffs to take effect immediately as Trump aides reportedly push for 20% duties
President Trump's tariffs are reshaping US trade policy and overhauling decades of free-trade agreements with friend and foe alike.
In the latest escalation of his trade war, Trump is readying broad "reciprocal" duties on all US trade partners this week, in what he has referred to as "Liberation Day." Trump also plans to impose 25% tariffs on all foreign-made vehicles this week.
The market is keen to find out how broad those duties will end up, and Trump has provided mixed signals at any given moment. He told reporters on Sunday that he plans to start the like-for-like push with "all countries." Meanwhile, his aides have reportedly drafted a proposal to impose a 20% tariff on most imports.
In any case, we'll find out more details on Wednesday at 4 p.m. ET, when the White House says Trump will host an event in the Rose Garden to announce the reciprocal tariffs.
