PULSE POINTS:

What Happened: President Donald J. Trump will unveil his administration’s reciprocal tariff policy on Wednesday.

Who’s Involved: President Trump, numerous countries, and leaders around the world.

Where & When: “Liberation Day,” Wednesday, April 2.

Key Quote: “The president has a brilliant team of advisers who have been studying these issues for decades, and we are focused on restoring the golden age of America and making America a manufacturing superpower.” — White House press secretary Karoline Leavitt.

Impact: The Trump White House argues the tariffs will push foreign countries to reduce their own trade barriers against the United States eventually, but until they do, Americans will benefit from the increased revenue from import duties. Other world leaders say they fear the move will kick off a large-scale trade war.

IN FULL:

President Donald J. Trump says the United States’ plans to impose reciprocal tariffs on Wednesday are ready and will be rolled out as part of what the America First leader has dubbed “Liberation Day.” The President will unveil the tariffs—which the White House says will take effect immediately—during a 4:00 PM news conference in the Rose Garden.

“That word reciprocal is very important,” Trump said during a press event in the Oval Office on Monday. He continued: “What they do to us, we do to them.” Meanwhile, during Tuesday’s press briefing, White House press secretary Karoline Leavitt told the media that President Trump has settled on the structure of the reciprocal tariff plans and was meeting with his trade advisor on “perfecting it.” Leavitt added that Trump is “always up to take a phone call” from foreign leaders who are willing to drop their barriers to U.S. imports, but at this juncture, the President is “very much focused on fixing the wrongs of the past.”

“The president has a brilliant team of advisers who have been studying these issues for decades, and we are focused on restoring the golden age of America and making America a manufacturing superpower,” Leavitt stated.

While globalists and anti-Trump politicians have tried to paint the reciprocal tariffs as an unprecedented and broad assault on global trade, the reality is that most countries will not notice significant changes. However, President Trump’s Treasury Secretary, Scott Bessent, has warned that around 15 percent of countries—who impose high tariff barriers against the U.S. but enjoy most of the U.S. trade volume—will see significant economic disruptions. Bessent called this collection of nations the “Dirty 15.”

There are estimated to be between 10 and 20 countries that account for the United States’s entire trillion-dollar trade deficit. U.S. government data from the Department of Congress suggests these nations and blocs likely include China, Mexico, Vietnam, Ireland, Germany, Taiwan, Japan, South Korea, Canada, India, Thailand, Italy, Switzerland, Malaysia, Indonesia, France, Austria, and Sweden.

While the tariff rate is not yet known—there is speculation that, on average, countries will likely see a 20 percent tariff on their exports to the U.S.

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