Trump tariff war: United States President Donald Trump is set to unleash a set of tariff announcements later today, on April 2, which the 78-year-old leader has dubbed as “Liberation Day”.
As the world waits anxiously for Donald Trump’s next salvo on the global economic trade and markets, we take a look at what exact date his announcent will come, at what time can Indian viewers catch live updates, and what can be expected from the move.
Donald Trump’s new tariffs — Date and Time
According to the White House, Donald Trump is set to make his announcement in the Rose Garden of the White House at 4 pm local time on April 2 — this is 8 pm GMT and around 1.30 am IST on April 3.
The announcement time has been set for after Wall Street markets close in the US. However, Asian markets will open hours later, and are expected to tell the impact story first.
When will Donald Trump’s new tariffs be effective?
According to White House Press Secretary Karoline Leavitt, the new tariffs would come into effect “immediately” after roll-out on April 2, AFP reported.
She added that Donald Trump was meeting his top advisors on the eve of the announcement, “perfecting it to make sure this is a perfect deal”.
What to expect from Donald Trump’s new tariffs?
Notably, neither Donald Trump nor his administration has specified the scope of the latest announcements, but he has repeatedly stressed on “reciprocation” and had earlier promised a “golden age” for American businesses and put a “stop” to being “ripped off”, as per the AFP report.
According to the White House, the finer points are still being discussed, but as per the report, the aim would be to tackle what it calls “trade imbalances” between the US and other countries — friends and foes alike.
Multiple US media reports speculate that Donald Trump may impose a blanket 20 per cent tariffs or even look to negotiate preferential treatment for some countries.
While critics have cautined that tariffs will only increase the burden on US consumers as importers would simply pass on the cost, Donald Trump insists they will bring a “rebirth” of American businesses. For now, with all the uncertainities ahead, it is a wait and watch game.
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