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Trump’s ‘Liberation Day’ tariffs are the highest in decades − an economist explains how that could hurt the US

By Bedassa Tadesse, Professor of Economics, University of Minnesota Duluth

President Donald Trump unveiled a sweeping new tariff plan on April 2, 2025, to reshape U.S. trade and boost domestic industry.

Framing the announcement as “Liberation Day,” he proposed a 10% tariff on essentially all imports, with steeper rates for major trade partners, including 34% on Chinese goods and 20% on those from the European Union. Starting April 3, a 25%…

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