“April 2” has been dubbed “Liberation Day” by Trump, who has been teasing new tariffs for weeks. He recently affirmed on Truth Social that this day signifies a turning point for the United States, claiming that for years the nation has been exploited by various countries, a situation he intends to rectify with an “America first” policy.
While specific details of the impending tariffs remain undisclosed, Trump is predicted to unveil an extensive range of them. Over 20 nations—including Australia, China, India, Canada, and the European Union—are potential targets for significant new export tariffs. This announcement follows the introduction of initial tariffs on steel and aluminium during his presidency, which have already impacted the Australian market.
The upcoming measures are part of Trump’s broader strategy to change America’s trade dynamics and to protect domestic industries from foreign competition.