WASHINGTON, D.C.: U.S. President Donald Trump’s latest round of tariffs will take effect immediately upon their announcement on April 2, White House press secretary Karoline Leavitt confirmed on Tuesday.
“They will be effective immediately, and the president has been signaling this move for quite some time,” Leavitt told reporters.
Trump’s new tariff strategy marks a dramatic escalation compared to his first term, during which he imposed duties on $380 billion worth of imports. This time, his approach appears even more expansive.
“You’d start with all countries, so let’s see what happens,” Trump said on Sunday, hinting at a sweeping trade overhaul.
With critical details still unclear, businesses and investors remain on edge. Analysts speculate that Trump could modify the tariffs in response to global backlash and economic impact, but for now, the White House insists the plan will proceed without hesitation.
“It is going to work,” Leavitt stated, adding that Trump’s economic team has spent decades studying trade issues. “We are focused on restoring the golden age of America and making the U.S. a manufacturing superpower.”
Trump to Announce Tariffs in Rose Garden Event
Trump is set to unveil the tariffs at 4 p.m. (local time) in a Rose Garden event, marking what is expected to be his most aggressive trade move yet. However, details remain murky.
While the White House has not disclosed the specific scope of the tariffs, officials have floated multiple possibilities:
- A 20% levy on all imports.
- Targeted tariffs on the “Dirty 15″—the 15 countries with which the U.S. has the largest trade deficits, as suggested by Treasury Secretary Scott Bessent.
Despite concerns over potential market turbulence, Leavitt dismissed fears, stating, “Like in his first term, Wall Street will be just fine.” However, investor unease has already triggered stock sell-offs in recent weeks, and economists warn of severe consequences.
Economists Warn of a Recession
According to Moody’s Analytics chief economist Mark Zandi, a universal 20% tariff could have devastating effects, including:
- 5.5 million job losses.
- Unemployment surging to 7%.
- A 1.7% contraction in U.S. GDP.
“If that happens, we get a serious recession. It’s a wipeout for the economy,” Zandi told CNN.
Global Backlash Begins
Trump’s tariffs have already sparked international backlash. Canadian Prime Minister Mark Carney vowed retaliation, stating:
“We will not disadvantage Canadian producers and Canadian workers relative to American workers.”
Other major U.S. trading partners have also signaled countermeasures, while some nations, including India, are still negotiating with Washington in hopes of securing exemptions.
With tensions rising and economic uncertainty looming, Trump’s tariff plan is set to reshape global trade—and possibly the U.S. economy—for years to come.
