Liberation Day tariffs

Uncommon card · No. 143189

United States president Donald Trump announced a broad package of import duties on April 2, 2025—a date he called "Liberation Day". In a White House Rose Garden ceremony, Trump signed Executive Order 14257, Regulating Imports With a Reciprocal Tariff to Rectify Trade Practices That Contribute to Large and Persistent Annual United States Goods Trade Deficits. This order declared a national emergency over the United States' trade deficit and invoked the International Emergency Economic Powers Act (IEEPA) to authorize sweeping tariffs on foreign imports. Executive Order 14257 raised tariffs on nearly all countries to 10% beginning April 5, with higher rates for major trading partners scheduled to begin April 9. The Trump administration called the tariffs "reciprocal", asserting they mirrored and counteracted trade barriers faced by U.S. exports. Trade analysts rejected this characterization, noting that the tariffs often exceeded those imposed by foreign countries and included countries with...

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