It comes as the president recently announced a 25% tariff on imported vehicles and some auto parts among other tariffs.

Trump has repeatedly called April 2 "Liberation Day." He is expected to enact reciprocal tariffs on major trading partners, especially those that contribute the most to the $1.2 trillion U.S. trade deficit.

Trump has repeatedly called April 2 “Liberation Day,” with promises to roll out a set of tariffs, or taxes on imports from other countries, that he says will free the U.S. from a reliance on foreign goods. To do this, Trump has said he’ll impose “reciprocal” tariffs to match the duties that other countries charge on U.S. products.

President Donald Trump is touting April 2 as the day the U.S. gets "money, and respect, back." Here's why he's calling it "Liberation Day."

Problem is, economists widely agree that tariffs, if applied broadly, result in higher prices for consumer goods regardless of where they are being made, push other countries to raise their own tariffs instead of lowering them and,

The U.S. and global markets have already started to feel the impact of Trump’s tariffs, with the U.S. stock market taking the worst hit thus far. The Wall Street slump and global dip in stocks have sparked fresh fears in economists and concerns as to whether the U.S. is heading into a recession.

Trump's announcement of mass tariffs on nearly all U.S. imports on April 2 immediately caused the stock market to free fall, according to a report from NBC News. On Thursday, the

US President Donald Trump’s long-promised ‘Liberation Day’ has arrived, with global attention fixed on his latest move to reshape trade policies. Trump is set to announce a sweeping set of tariffs on Tuesday at 4 pm Eastern Time (2000 GMT / 1.

Donald Trump has dubbed April 2 ‘Liberation Day,’ when the US president will enact a series of new reciprocal tariffs.