Donald Trump is preparing to unveil a raft of new tariffs on Wednesday afternoon in what the president has repeatedly billed as “Liberation Day.”
Trump has promised to roll out reciprocal dollar-for-dollar tariffs on nations that levy duties on U.S. goods as part of an aggressive attempt to fulfill his administration’s America First agenda and correct years of what he deems “unfair” trade.
International markets wait tentatively as the president is expected to unveil his plans at 4 p.m. Wednesday at a “Make America Wealthy Again” event in the White House Rose Garden at the moment American markets close.
Plans remain under wraps with Trump’s team reportedly weighing options through Tuesday. However, White House Press Secretary Karoline Leavitt stated that the president had already decided his course of action and that the tariffs would go into effect almost immediately. The only way to avoid the new levies, she said, is to move production to the U.S.
It follows the liberal candidate for a critical seat on the Wisconsin Supreme Court, Susan Crawford, who defeated conservative Brad Schimel in a race seen as a referendum on Trump and his billionaire adviser Elon Musk.
Trump attacks four ‘disloyal’ Republicans for pushing back on Canada tariffs
President Donald Trump chastised four “disloyal” Republican lawmakers who indicated they will join Democrats in voting for a resolution to undo his tariffs on Canada, calling them “extremely difficult” in an overnight Truth Social rant.
Ariana Baio reports.
‘Liberation Day’: Who has the worst trade deficit with the U.S. as Trump prepares to reveal tariffs plan?
A man came to the US to donate a kidney to his brother — then ICE showed up…
A Venezuelan man came to the United States to donate a kidney to his brother in kidney failure, but ICE authorities detained him, putting the fate of both brothers in question.
José Alfredo Pacheco, 37, was diagnosed with end-stage kidney failure in December 2023, shortly after arriving in the Chicago area from Venezuela, seeking asylum. His older brother, José Gregorio González, 43, hoped to donate his kidney to save Pacheco’s life — but immigration authorities detained him, throwing their plans into disarray.
Kelly Rissman reports.
More than 80% of Americans see foreign trade as opportunity — up 20 points since 2024…
According to polling by Gallup, 81 percent of Americans see foreign trade as an opportunity for economic growth — and that number has jumped 20 percentage points since last year.
The percentage who see it as more of a threat to the U.S. economy has fallen by half to 14%, which would seem to indicate that the Trump administration is wildly out of step as it pursues its trade war against key global partners.
‘You failed, you couldn’t buy the vote’: Elon Musk mocked for trying to spin the Wisconsin election result
Elon Musk was roundly mocked on social media after attempting to spin his defeat in the Wisconsin Supreme Court race into a win for voters’ rights.
“This was the most important thing,” Musk posted on X in response to a post confirming that Question 1, which adds a voter ID requirement to the state’s Constitution had passed.
That was already the law in Wisconsin, and Question 1 just protected it in the state’s Constitution. However, Musk had long focused on the state’s Supreme Court race and talked little about Question 1. He often posted on social media about the dangers or electing a liberal judge and poured $25 million into the state to support the conservative candidate.
However, Musk’s pick lost to the liberal candidate.
Mike Bedigan and Madeline Sherratt take a look at the response.
‘Liberation Day’: What do Trump’s tariffs mean for Americans?
With just hours to go before the announcement, Alex Woodward takes a look at the likely impact on Americans.
Trump world knows who it will blame if tariffs rollout turns to disaster
It’s unclear what impact President Donald Trump’s “Liberation Day” tariffs will have on the U.S. economy, but if things go badly, members of the administration are reportedly ready to blame one person, as Ariana Baio reports.
As Trump’s deadline approaches, Amazon makes last-ditch bid for TikTok
Amazon has made a last-minute offer to buy TikTok days before President Donald Trump’s Saturday deadline,according to reports.
The online retail giant offered to acquire the social media platform Wednesday in a letter addressed to Vice President JD Vance and Commerce Secretary Howard Lutnick, the New York Times reported.
Those involved in talks to find a new owner for the app do not appear to be taking the bid seriously, the outlet reported.
Amazon declined to comment when contacted by The Independent.
Kelly Rissman reports.
‘Liberation Day’: How’s the stock market doing as we await Trump’s tariffs announcement?
U.S. stock indexes recovered from morning losses to trade modestly higher on Wednesday as investors awaited President Donald Trump’s sweeping tariff announcements.
The Dow Jones was up 273 points or 0.65% shortly before 1 p.m. ET.
Volatility has gripped U.S. markets in recent weeks as investors speculate about the scope of tariffs and their impact on the global economy, inflation, and corporate earnings.
Trump has kept the world guessing on the details of the tariff plans, which were still being formulated ahead of a White House Rose Garden announcement ceremony scheduled for 4 p.m. ET.
The president has said that his reciprocal tariffs aim to equalize the comparatively lower U.S. tariff rates with those imposed by other nations. But the format of the duties was unclear, with reports that Trump was considering a 20% universal tariff.
At the close of trading in London, the FTSE 100 fell on Wednesday as investors awaited details of the tariff plans in the latest escalation of a global trade war that has heightened worries about global growth and inflation.
The blue-chip stocks index fell 0.3%, while the midcap FTSE 250 gained 0.3%. Gains in the pound weighed on the export-focused FTSE 100, as the dollar lost ground ahead of the tariff announcement.
The tariffs, which will take effect immediately, are expected to trigger price increases, prompt retaliatory measures from affected countries, and disrupt decades of established trade practices.
However, British finance minister Rachel Reeves said the U.K. would not rush into action to counter any tariffs, as it doesn’t want to risk undermining a possible trade deal with Washington.
Reporting by Reuters
Source: independent.co.uk