Trump’s “Liberation Day” tariffs spark global trade war fears
KATHMANDU: US President Donald Trump has ignited a firestorm of global debate with a bold announcement of sweeping new tariffs on Wednesday, branding it “Liberation Day” for America. The move, which includes hefty levies on major economies and a baseline 10% tariff on all imports, threatens to plunge the world into a trade war, with nations like the EU, Canada, and India already signaling retaliation.
Trump unveiled a 26% “reciprocal tariff” on India, citing its 52% duties on U.S. goods. “Modi’s my good friend, but he’s not treating America fairly,” he remarked. China faces a 34% tariff, the EU 20%, South Korea 25%, Japan 24%, Vietnam 46%, Taiwan 32%, and Nepal a modest 10%. Around 60 countries will see tariffs set at half the rate they impose on American products. The baseline 10% tariff kicks in at 12:01 a.m. on April 5, with reciprocal rates starting April 9, White House officials confirmed.
The announcement, delivered in the White House Rose Garden, was framed as a historic shift. “For 50 years, America’s been cheated. That ends today,” Trump declared, promising the tariffs would make the U.S. “richer than any country” and bring jobs back home. He singled out Canada’s dairy tariffs as “unfair” and urged nations to manufacture in America to dodge the levies, touting an “America First” resurgence.
Global reaction was swift and sharp. The EU vowed a “coordinated, united, and strong” response by April’s end, with France’s Emmanuel Macron set to strategize with EU chief Ursula von der Leyen. Canada’s Mark Carney promised a cautious fight, while the UK’s Keir Starmer sought trade talks. Vietnam offered tariff cuts to appease Trump, but China, Japan, and South Korea accelerated free trade negotiations, and Mexico slashed its 2025 growth forecast amid tensions with its top trade partner.
Trump’s six-point pitch—25% auto tariffs, economic supremacy, forced U.S. production, job repatriation, dairy grievances, and “economic freedom”—drew cheers from supporters but alarm from critics. Economists warn of higher consumer costs and recession risks, while markets reel from uncertainty. As the world braces for April’s tariff rollout, Trump’s gamble could redefine global trade—or unravel it entirely.
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