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Trump, tariffs and Liberation Day

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Overview
Houston Chronicle |
President Donald Trump is set to announce a barrage of self-described “reciprocal” tariffs on friend and foe alike.
Reuters |
Experts say it will take years to rekindle U.S. manufacturing, alter supply chains and bring home production, the goals Republican Trump and his supporters suggest his tariffs will achieve.

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When It Comes to Tariffs, Trump Holds All the Cards. Neither Congress Nor the Markets Will Hold Him Back.
They failed to see that the most serious consequences would instead be in the area where Trump often showed the most interest: global trade and economics. Unlike many other areas of his new presidency,
Stock market closes up ahead of Trump's 'Liberation Day' tariffs
U.S. stocks closed up on Wednesday ahead of President Donald Trump's announcement of sweeping tariffs, which the White House dubbed "Liberation Day." The Dow Jones Industrial Average climbed 230 points,
The Latest: Trump set to announce new tariffs in what he calls ‘Liberation Day’
After weeks of White House hype and public anxiety, President Donald Trump is set to announce a barrage of self-described “reciprocal” tariffs on friend and foe alike. The new tariffs — coming on what Trump has called “Liberation Day” — is a bid to boost U.
For Trump, tariff gamble brings political risk
He called it "Liberation Day," but President Donald Trump's Wednesday unveiling of reciprocal tariffs could cause political headwinds for his party and economic pain for his constituents if his promises to recast the economy do not work out.
Trump just massively escalated his trade war. Here’s what he announced
President Donald Trump is stepping up his massive global trade war, a move that’s certain to weigh on Americans’ wallets and could push the US economy into a painful recession.
Trump is set to announce new tariffs as he takes a political and financial gamble
Based on the possibility of broad 20% tariffs that have been floated by some White House aides, most analyses see an economy tarnished by higher prices and stagnation. U.S. econom

China, Trump and Tariff

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Impacts
The Wall Street Journal |
The trade conflict between the world’s two largest economies reached new terrain as Beijing showed its anger with first across-the-board levies.
MarketWatch |
Trump said China will face a new reciprocal tariff of 34% and the European Union will be hit with a new levy of 20%, while Japan’s tariff will be at 24%.

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China Hits Back at Trump With Sweeping Tariffs on All U.S. Goods
The trade conflict between the world’s two largest economies reached new terrain as Beijing showed its anger with first across-the-board levies.
LIVE
Trump tariffs live updates: China to impose 34% tariff on all US goods
Fallout continues after President Donald Trump's unveiling of severe tariffs against virtually all U.S. trading partners.
China punches back as world weighs how to deal with higher US tariffs
Countries and industries were scrambling Friday to respond as President Donald Trump’s latest tariffs hikes upend global trade and world markets. China responded to the 34% tariffs imposed by the U.S.
Trump’s China tariffs will total 54%. Here’s what he’s charging other countries.
President Donald Trump on Wednesday said his new plan for U.S. tariffs will consist of a universal tax of 10% on imported products from all other countries, as well as additional “reciprocal” levies on “nations that treat us badly.
China's response to new U.S. tariffs will likely focus more on stimulus, building trade ties
China’s reaction to new U.S. tariffs will likely focus on domestic stimulus and strengthening ties with trading partners, analysts said.
China Says U.S. Should Reverse Tariffs Now
China’s response to the tariffs was pretty straightforward. It called on the U.S. to “immediately cancel” the levies, while also saying it would retaliate. China was already subject to 20% tariffs, and it responded to those with countermeasures that weren’t as harsh.
Trump hosting $1 million a person super PAC dinner as stocks sink over tariffs
As stocks continued to slide after markets opened, President Trump is speaking at a $1 million dollar-a-person candlelight dinner Friday at Mar-a-Lago, according to an invitation reviewed by CBS News. The fundraiser is for MAGA Inc, a super PAC that supports Mr. Trump.
Cruz hopes Trump tariffs are ‘short lived’
Sen. Ted Cruz (R-TX) warned that U.S. consumers could suffer if President Donald Trump’s tariff plan doesn’t go as the White House hopes. During a Thursday interview with Fox Business Network’s Larry Kudlow,
Trump’s tariffs aren’t strictly reciprocal. Here’s how he calculated them
President Donald Trump promised tariffs that would raise U.S. import taxes high enough to mirror what others assess as trade penalties on American goods.
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White House says Trump will go ahead with tariffs as nervous world awaits trade war
Trump has for weeks trumpeted April 2 as a "Liberation Day" that will see dramatic new duties that could upend the global trade system, with a White House Rose Garden announcement scheduled for 4 p.m.
Powell Speaks Later Today in Wake of Jobs Report, Trump Tariffs
Federal Reserve Chairman Jerome Powell is set to take the stage on Friday in the wake of the latest snapshot of the U.S. labor conditions and another round of surprisingly robust tariff hikes from the White House.
Trump’s tariffs have launched global trade wars. Here’s a timeline of how we got here
Long-threatened tariffs from U.S. President Donald Trump have plunged the country into a global trade war — all while on-again, off-again new levies further escalate uncertainty.
Did Trump Use ChatGPT to Determine Disastrous New Tariffs?
On top of a baseline 10% tariff against the entire world, individual countries will face additional tariffs based on how “unfairly” Trump believes they are treating the U.S. It turns out, however, that the White House may have used rudimentary suggestions from a chatbot to come to its calculations.
Trump’s tariffs are sowing confusion. That may be the point.
The Trump administration's roll-out of sweeping global tariffs tariffs has prompted urgent questions about how the new taxes were calculated, how long they will last and what exactly the White House hopes to achieve with them.
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