The Trump administration is planning to impose a round of fresh tariffs on April 2, a day President Trump has dubbed "liberation day." The announcement is viewed by economists as the culmination of his "America First Trade Policy," an executive order he signed on his first day in office aimed at revitalizing U.S. manufacturing.

President Trump and his trade team are considering narrower tariffs than they once envisioned, including more limited automotive duties and lower reciprocal tariffs. Trump said for months that he would impose reciprocal tariffs on April 2 that would equalize U.