U.S. President Donald Trump confirmed Tuesday, April 1, 2025, that new import tariffs will take effect immediately, following his official announcement scheduled for Wednesday in the White House Rose Garden.
Press Secretary Karoline Leavitt stated that the move is part of the so-called “Economic Liberalization Day,” an initiative that seeks to reposition international trade as the centerpiece of the Trump administration’s economic policy.
What do they consist of?
Although full details have not been disclosed, Trump has advanced that the proposal will include aggressive new tariffs.
Among the options contemplated is a universal tariff of 20% on all imports.
As well as tariffs targeted at specific countries with which the U.S. maintains significant trade deficits, known internally as the “dirty 15.”
It is not yet known whether the measure will be global or selective, but close sources indicate that even the president’s advisors have not been fully briefed on the final scope of the policy.
Economic risk
According to a projection by Moody’s Analytics, the imposition of a universal 20% tariff could result in the loss of up to 5.5 million jobs, an increase in unemployment to 7%, and a drop in GDP of up to 1.7%.
“It would be an economic disaster. It would take us straight into a recession,” warned Mark Zandi, Moody’s chief economist, in an interview with CNN.
Experts also fear trade retaliation from other countries, which would exacerbate the effects on key sectors such as agriculture, manufacturing and mass consumption.
There is concern
The announcement has generated uncertainty on Wall Street.
CEOs and chambers of commerce have expressed concern about the impact these tariffs would have on production costs and consumer prices.
Trump has announced that the proposal will include aggressive new tariffs
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“We’ve never seen such a sudden and sweeping tariff policy,” said Erica York, vice president of tax policy at the Tax Foundation.
“It goes far beyond any measures taken by previous presidents.”
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