Trump announces sweeping tariffs on goods worldwide. Here’s what it means

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Trump declares 'Liberation Day,' announces sweeping tariffs on goods worldwide

President Trump unveiled sweeping tariffs in a Rose Garden speech Wednesday that was closely watched by world leaders anticipating convulsions in global markets.

In an effort to bring manufacturing back to the United States, Trump said he would slap what he called "reciprocal tariffs" on countries that currently tax U.S. goods.

He dubbed Wednesday "Liberation Day," and said it would "forever be remembered as the day that American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again."
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