What to know about President Trump’s ‘Liberation Day’ tariff plans

President Donald Trump announced his last plan for definitions on Wednesday afternoon during an event in the White Rose Garden, who said he would focus on imposing a mutual tariff on American trading partners.

The Declaration of the “Tahrir Day” tariff comes after the end of the trading day for the US financial markets, which was rocked by the uncertainty about the definitions in recent weeks. The S&P 500 has decreased by about 3.9 % so far, and the index’s gains have been erased since Trump’s election in November amid concerns about an average trade war.

“April 2, 2025, it will be remembered forever as the American industry was born again,” Trump said in comments from the Roses Park. “In a few moments, I will sign a historical executive that publishes mutual definitions around the world. Likewise – this means that they do it to us, and we do it for them. Very simple, you cannot get any simpler.”

“This is one of the most important days, in my opinion, in American history,” Trump said. “For years, American citizens have forced to sit on the margin because other countries have become rich and strong, most of them at our expense,” Trump said. “But now our role is to prosper, and thus, we use trillion and dollars to reduce our tax and pay our national debt, and all of this will happen very quickly.”

Wall Street companies see the risk of recession increasing on customs duties and commercial war

President Donald Trump will announce his identification plans on Wednesday. (Jabin Botsford / The Washington Post via Getty Images / Getty Images)

What are the definitions?

The executive order that determines the mutual tariff plan is expected to be issued later on Wednesday. The president pointed out that regardless of mutual definitions, the administration will establish a minimum basic tariff by 10 %.

During his remarks in the garden of roses, Trump’s contract is a sticker plate that shows the joint rate of customs tariffs and other non -transported barriers imposed by other countries on American exports as well as mutual definitions that the Trump administration plans to tax on imports from those countries. Among them was:

• China: 67 % tariffs and other commercial barriers on American goods; 34 % mutual definitions.
• European Union: 39 % tariffs and other commercial barriers on American goods; 20 % mutual definitions.
• Vietnam: 90 % tariffs and other commercial barriers on American goods; 46 % mutual definitions.
• Japan: 46 % tariffs and other commercial barriers on American goods; 24 % mutual definitions.
• India: 52 % tariffs and other commercial barriers on American goods; 26 % mutual definitions.
• South Korea: 50 % definitions and other commercial barriers on American goods; 25 % mutual definitions.

The White House released a full list of mutual definitions in a post on X:

Canada and Mexico, who enjoy a party to the United States and Mexico-Canada (USMCA agreement, which is negotiating Trump during his first term, did not appear in the newspaper’s mutual definitions.

White House press secretary Caroline Levitte said on Monday that there are no exemptions for customs duties, including for farmers, who were the main target of the revenge definitions of foreign countries during the first period of Trump in his post.

The White House says, Trump “is always for a good negotiation

Regardless of the mutual tariff plan, the Trump administration also discussed a comprehensive tariff of up to 20 %, as well as a plan to focus the tariff on 15 countries with high levels of trade with the United States and relatively high tariff rates. These plans appear to have been presented in favor of the mutual tariff plan.

The White House may also launch an “outpatient service” to oversee a tariff by transferring this responsibility from customs and protecting the American border to the new ERS within the Trade Department. The Trump administration claims that foreign companies and countries are paying the customs tariff, although economists agree widely that the importing company, which in this case will be American companies.

Trump’s “outpatient service” will collect from importers, not “foreign sources”

The American agriculture industry was a major target for the revenge of commercial partners during the first period of Trump. (Scott Olson / Getty Images / Getty Images)

Trump imposed a 25 % tariff on imports from Canada and Mexico with sculptures at a 10 % less tariff rate on Canadian energy products, then delaying that vibrant tariff on the goods covered by USMCA until April 2, and at a time when it will replace its new definition.

Trump previously announced a 25 % tariff on car imports, which enters into force on April 3, and imposed a 25 % tariff on imported and aluminum steel. The tariff plans for other sector include copper flow, semiconductors, medications and wood.

What next?

The Trump administration’s “tariff team” is to structure the definitions and negotiation with a number of other countries. The team includes President Trump and Treasury Secretary Scott Bessin, Trade Minister Howard Lottenic, American Trade Representative, Jameson Jarir, and Director of the National Economic Council Kevin Haysit.

Levitte said on Tuesday that “quite a few countries” have communicated with the Trump administration to discuss ways to reduce customs tariffs.

How much relief cost of the trade war during Trump’s first term?

The tariff of customs duties is the taxes on imports that the importer pays when the sacrifice enters the country. (Sam Wolfe / Bloomberg via Getty Images / Getty Images)

The Trump administration suggested that the definitions – which are taxes on imported goods – can serve several purposes, such as increasing federal tax revenues to compensate for other tax cuts, encourage re -manufacturing, or as a negotiating tool to reduce customs tariffs between trade partners in the United States.

These goals are contradictory in some ways: the definitions that are imposed and removed later through negotiations that lead to low commercial barriers generate less tax revenues and remove the incentive for re -equipment. Likewise, if companies move to the United States to avoid definitions, the government will achieve fewer tax revenues.

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Trump’s advertisement can shed more light on the final goal of the management of customs tariff plans, as well as setting its talks with trade partners in America.

Edward Lawrence, Crystina and Worm in Fox Business contributed.