Trump Plans New Tariffs Amid Warnings of Economic Fallout

President Trump has announced a new series of tariffs set to take effect on 'Liberation Day,' April 2, aiming to boost domestic production and reduce trade deficits. These tariffs, which could impact a wide range of goods including agricultural products and vehicles, are expected to be as high as 25% on certain imports. Lawmakers, including Canadian Prime Minister Mark Carney, have expressed strong opposition, warning of potential economic fallout and vowing to respond forcefully to U.S. measures. Many congressional Republicans are also concerned about the adverse effects of these tariffs, fearing increased prices for consumers and disruptions to the economy. Amidst this uncertainty, U.S. markets have declined, reflecting apprehension over the potential consequences of Trump's aggressive trade policies. Critics argue that these tariffs could signify a significant failure of U.S. trade policy and damage relationships with key trading partners.