Donald Trump Tariff News Live Updates: The White House has yet to finalize the reciprocal tariff plan, a Bloomberg report revealed, citing anonymous sources. Multiple options, including tiered tariffs with flat rates for different countries and a customized plan, are under consideration.
Trump’s Tariff Plan & India's Potential Loss
As US President Donald Trump prepares to announce reciprocal tariffs today, April 2—dubbed "Liberation Day"—global markets are on high alert. The new tariffs will take effect immediately once declared. Ahead of the announcement, the White House criticized India for its 100% tariff on American agricultural products, pointing out similar trade barriers in the EU, Japan, and Canada.
A Washington Post report suggests Trump’s administration is considering a 20% tax on most imported goods, with potential plans to use the revenue for tax refunds or dividends. If implemented, India could face a $3.1 billion loss, according to estimates.
Trump’s "Liberation Day" Tariff Announcement – Time & Venue
The tariffs will be announced from the Rose Garden at the White House. While no official schedule has been released, US Treasury Secretary Scott Bessent confirmed the event is set for 4 PM Washington time on April 2 (1:30 AM IST on April 3). The announcement will be streamed live on the White House’s official social media channels.
Economic Impact & Risks
US companies relying on imports will be directly affected by the new taxes. White House spokesperson Karoline Leavitt suggested the tariffs could take effect immediately, raising costs for businesses.
A BBC report highlights that higher tariffs may push companies to:
✔ Change suppliers
✔ Share costs with business partners
✔ Increase prices for consumers
If prices rise too sharply, consumer demand could fall, increasing the risk of a US and global recession. The coming hours will be crucial as the world watches how Trump’s trade policies unfold.