Trump has repeatedly called April 2 "Liberation Day." He is expected to enact reciprocal tariffs on major trading partners, especially those that contribute the most to the $1.2 trillion U.S. trade deficit.

Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.

All eyes are on the tariff announcements that U.S. President Donald Trump is expected to make at 4 p.m. EST on April 2, a day which he refers

While tariffs have long been cornerstone of Trump’s economic policy, the market instability triggered by the president’s action could lead some to jump off the Trump train. Th

Yet the key factor was surely the precipitous slide in the markets — above all the mighty US government bond market. White House officials’ brazen assertions that Trump ’s retreat was all part of a grand negotiating strategy were belied by his admissions about people “getting yippy”.

Stock markets around the world nosedived on Monday after traders, businesses and economies reacted to Donald Trump’s ‘liberation day’ announcement of higher tariffs on nearly every U.S. trading partner.