Trump plans his tariff ‘Liberation Day’ with more targeted push

Donald Trump’s coming wave of tariffs is poised to be more targeted than the barrage he has occasionally threatened, aides and allies say, a potential relief for markets gripped by anxiety about an all-out tariff war.
Trump is preparing a “Liberation Day” tariff announcement on April 2, unveiling so-called reciprocal tariffs he sees as retribution for tariffs and other barriers from other countries, including longtime US allies.

While the announcement would remain a very significant expansion of US tariffs, it’s shaping up as more focused than the sprawling, fully global effort Trump has otherwise mused about, officials familiar with the matter say.
Trump will announce widespread reciprocal tariffs on nations or blocs but is set to exclude some, and — as of now — the administration is not planning separate, sectoral-specific tariffs to be unveiled at the same event, as Trump had once teased, officials said.

Still, Trump is looking for immediate impact with his tariffs, planning announced rates that would take effect right away, one of the officials said.

And the measures are likely to further strain ties with allied nations and provoke at least some retaliation, threatening a spiraling escalation. Only countries that don’t have tariffs on the US, and with whom the US has a trade surplus, will not be tariffed under the reciprocal plan, an official said.

As with many policy processes under Trump, the situation remains fluid and no decision is final until the president announces it.