President Donald Trump’s newly announced “Liberation Day” tariffs will take effect immediately after he unveils them on Wednesday, White House Press Secretary Karoline Leavitt confirmed.
“My understanding is that the tariff announcement will come tomorrow, and they will be effective immediately,” Leavitt told reporters on Tuesday, noting that she had just spoken with Trump about the matter.
The White House described the move as a historic shift in U.S. trade policy, marking a significant moment in the nation’s economic history.
“Tomorrow, April 2, 2025, will go down as one of the most important days in modern American history,” Leavitt said.
She emphasized that while the U.S. has long maintained an open economy, many foreign markets remain closed to American exports, calling the current trade landscape “fundamentally unfair.”
Despite Leavitt’s assurances that the tariffs will take effect immediately, key details about the policy remain unclear.
Financial markets have reacted sharply to Trump’s planned tariffs, with the tech-heavy Nasdaq dropping more than 2,500 points since February when he first hinted at the move. Meanwhile, the Dow has fallen nearly 3,000 points amid investor uncertainty.
