WASHINGTON (AP) — After weeks of White House hype and public anxiety, President Donald Trump is set Wednesday to announce a barrage of self-described “reciprocal” tariffs on friend and foe alike.
The new tariffs — coming on what Trump has called “Liberation Day” — is a bid to boost U.S. manufacturing and punish other countries for what he has said are years of unfair trade practices. But by most economists’ assessments, the risky move threatens to plunge the economy into a downturn and mangle decades-old alliances.
The White House is exuding confidence despite the political and financial gamble being undertaken.
“April 2, 2025, will go down as one of the most important
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