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Fortune

Eleanor Pringle

‘Liberation Day’ is coming: Trump has put broad-based sanctions on ‘all countries’ on the table

Donald Trump European Union China Fortune Russia United States Vladimir Putin America UBS

U.S. President Donald Trump (Credit: Andrew Harnik—Getty Images)

President Trump is set to announce new tariffs on April 2, potentially escalating trade tensions with key allies and further impacting market volatility. Broad-based sanctions on “all countries” are now on the table. Analysts predict sector-wide tariffs averaging 15% across major U.S. trading partners, with potential recessionary and inflationary consequences.

“Liberation Day” is upon us. On Wednesday, April 2, the Trump administration is expected to make a raft of new tariff announcements, potentially escalating growing trade tensions with some of America’s closest allies.

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