Trump's Bold Move in the White House Rose Garden

In a historic announcement, President Donald Trump unveiled massive tariffs on major trade partners, including China and the European Union, marking what he called "Liberation Day." Holding up a chart of the measures, Trump emphasized this as a pivotal moment in American history, declaring it a "declaration of economic independence."

Immediate Global Backlash and Market Volatility

The announcement sparked immediate anger and threats of retaliation worldwide, with Australia criticizing the tariffs as "not the act of a friend." Stock markets braced for volatility, with US futures plummeting and gold hitting a record high as investors reacted.

Targeted Tariffs and the Vision for America

Trump imposed heavy tariffs on nations he accused of treating the US badly, including 34% on Chinese goods, 20% on the EU, and 24% on Japan. A baseline tariff of 10% was set for others, including Britain. Trump dismissed fears of turmoil, claiming the tariffs would restore the US economy to a "Golden Age."

'Make America Wealthy Again'

Amid cheers from a hand-picked audience, Trump asserted the tariffs would "make America wealthy again," including sweeping auto tariffs of 25% set to take effect.

Global Reactions and the Path Forward

World leaders, including Australia's Prime Minister and Italy's Prime Minister, expressed discontent, while Britain sought to mitigate the impact. Canada and Mexico were exempt, but Canada vowed to fight existing levies. Brazil's Congress approved measures to respond to trade barriers.

This move, early in Trump's second term, reflects his long-standing belief in tariffs as a solution to trade imbalances and economic challenges.