The White House has confirmed that President Donald Trump will roll out new tariffs this week, though it has yet to disclose their full extent, leaving the world bracing for potential economic turmoil. 

The uncertainty has fueled fears of a deepening global trade conflict.

Trump has kept both allies and adversaries in suspense over which nations will be affected and to what degree. However, he promised to be “very kind” when announcing the tariffs on Wednesday, a day he has dubbed “Liberation Day.” In recent weeks, his shifting stance on trade measures has added to market volatility.

Global stock markets remained unsettled ahead of the expected “reciprocal tariffs,” which Trump insists are necessary to counteract unfair trade practices. White House Press Secretary Karoline Leavitt confirmed that the tariffs would take effect immediately upon their announcement.

On Monday, Trump stated that he had finalized his plan but refrained from revealing specific details, only noting that the tariffs would be lower than what other nations impose on the U.S. He emphasized a global responsibility, saying, “We sort of have a world obligation, perhaps.”

Trump will unveil the tariffs during a press conference titled “Make America Wealthy Again” at 4 p.m. local time (20:00 GMT) on Wednesday. Meanwhile, he has urged Senate Republicans to reject a proposal that would revoke his tariff policy against Canada, linking the issue to a fentanyl “emergency.”

With Canada and Mexico already preparing countermeasures, tensions are rising. Mexican President Claudia Sheinbaum ruled out an “eye for an eye” response, while Canadian Prime Minister Mark Carney pledged retaliatory tariffs designed to maximize the impact on the U.S. economy while minimizing harm to Canadians.

As the world watches, Trump's trade strategy risks triggering a cascade of retaliatory actions from major trading partners, including China and the European Union, potentially setting off a full-scale trade war.
Source: Al Jazeera 

BDST: 0941 HRS, APR 02, 2025
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