Trump's latest tariffs to take effect on Wednesday, White House says

No details but report says administration could use $6tn to give Americans rebates

20250402 Trump tariffs file photo

A 20% tariff on top of those already imposed would cost the average U.S. household at least $3,400, according to one analysis. © Reuters

WASHINGTON (Reuters) -- The White House confirmed on Tuesday that President Donald Trump will impose new tariffs on Wednesday, though it provided no details about the size and scope of trade barriers that have businesses, consumers and investors fretting about an intensifying global trade war.

Trump for weeks has trumpeted April 2 as a "Liberation Day," scheduling dramatic new duties to take effect that could upend the global trade system. A White House Rose Garden announcement is scheduled for 4 p.m. Eastern Time (5 a.m. Thursday in Tokyo).

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