This analysis from the CSIS Economics Program and Scholl Chair in International Business unpacks the April 2 tariff announcements from the White House.

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.

Canadian Prime Minister Mark Carney reiterated his intention to slap retaliatory tariffs against the U.S. should the country be targeted under President Trump’s latest batch of tariffs coming Wednesday.

While tariffs have long been cornerstone of Trump’s economic policy, the market instability triggered by the president’s action could lead some to jump off the Trump train. Th

Yet the key factor was surely the precipitous slide in the markets — above all the mighty US government bond market. White House officials’ brazen assertions that Trump ’s retreat was all part of a grand negotiating strategy were belied by his admissions about people “getting yippy”.

Stock markets around the world nosedived on Monday after traders, businesses and economies reacted to Donald Trump’s ‘liberation day’ announcement of higher tariffs on nearly every U.S. trading partner.