April 2 ‘Liberation Day’: At what time Trump will announce a mutual tariff and what to expect?

US President Donald Trump’s long -deprived ‘liberation day’ has come, with global attention to his latest step to reopen trade policies. According to a report by the news agency’s Reuters, Trump is set to announce a broad set of tariffs at the eastern time (2000 GMT / 1.30 AM IST) on Tuesday at 4 pm on Tuesday.
The major economic implications of tariffs, which claims that he will reduce American dependence on foreign goods, is expected to be.
What is expected from Trump’s tariff announcement
White House press secretary Karolin Lewitt confirmed on Tuesday that new tariffs would be imposed on Wednesday, although he did not provide any details on the range of trade barriers. He said “Soon after Trump’s announcement, mutual tariffs on countries implementing duties on American goods”, while 25% tariff on auto imports will begin from April 3.
Trump has repeatedly postponed on 2 April as a day of major economic reforms on 2 April, vow to implement the tariff that matches people implemented by other countries on American goods.
According to the New York Post, the White House is considering a plan to implement an average tariff of about 20% on almost every country’s products rather than targeting specific nations or industries.
Which tariffs will be applied first?
Trump has already imposed tariffs on the imports of aluminum and steel, as well as increasing duties on Chinese goods. But this time, their administration appears to be prescribed to implement additional measures. Treasury Secretary Scott Besent told Republican MPs that Trump’s “mutual tariff” would act as a hat, allowing cuts if other nations follow US demands.
The first round of the new tariff will include 25% levy on auto imports, which is ready to be effective on 3 April. Trump has also confirmed that 25% of tariffs will be placed on all imports from any country that buy oil or gas from Venezuela, including the US. These new duties are expected to generate significant revenue, the White House business advisor Peter Navaro estimates that they can raise $ 600 billion annually.
How will tariffs affect consumers?
Economists warn that these broad tariffs can increase prices for consumers and disrupt supply chains. Businesses have already expressed concern that the increase in import taxes will increase the cost, which will cause inflation pressure. The Federal Reserve Bank of Atlanta Survey showed that corporate financial leaders hope to hop that tariffs are expected to hire and cut economic growth.
Trump’s decision to move forward with these tariffs has promoted backlash from major American business partners. Canada vowed to take vengeance, in which Prime Minister Mark Carney said, “We will not harm Canadian producers and Canadian workers relative to American workers.” According to Reuters report, Carney and Mexican President Claudia Shinbam discussed strategies to Canada to deal with “unfair trade works”.
‘This tariff will leave India to a great extent’
Trump said on Monday that India, as an approach to its mutual tariff on 2 April, is “ready to quit its tariff to a large extent with other American colleagues. Speaking from the White House Oval office, Trump highlighted its long -standing complaint that the US has prepared the day of generosity by every country in the world”.
He quoted the recent tariff cuts of the European Union as proof of the fact that his approach was working and expressed confidence that more nations would follow the nations. Trump said, “I have heard that India is going to leave its tariff to a great extent. Many countries are going to give up their tariffs.”