Trump slaps at least 10% tariffs on almost all imports in ‘Declaration of Economic Independence’: ‘Half of what they are charging us’
SUMMARY
On April 2, 2025, President Trump rolled out his “Liberation Day” tariffs, slapping a 10% baseline on nearly all imports starting Saturday, with bigger reciprocal whacks—like 20% on the EU and 34% on China—hitting April 9. From the Rose Garden, he pitched it as a “Declaration of Economic Independence,” zeroing in on protecting American factories. “We’re bringing industry roaring back,” he said, flanked by steelworkers and autoworkers, promising to juice up the U.S. industrial base against decades of foreign “looting.” The 10% floor, triple the pre-Trump average, is meant to block cheap imports from undercutting American goods, while “half-what-they-charge-us” rates—like 24% on Japan—target trade cheats. Trump’s betting it’ll spark a manufacturing boom, pointing to his first term’s low inflation as proof it won’t tank the economy. “Factories will thrive, competition will grow, prices will drop,” he vowed, eyeing a “golden age” for U.S. workers.
