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Trump set to show his hand on tariffs
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The latest in politics and policy. Direct to your inbox. Sign up for the Evening Report newsletter Subscribe *{box-sizing:border-box}body{margin:0;padding:0}a[x-apple-data-detectors]{color:inherit!important;text-decoration:inherit!important}#MessageViewBody a{color:inherit;text-decoration:none}p{line-height:inherit}.desktop_hide,.desktop_hide table{mso-hide:all;display:none;max-height:0;overflow:hidden}.image_block img div{display:none}sub,sup{font-size:75%;line-height:0} @media (max-width:620px){.image_block div.fullWidth{max-width:100%!important}.mobile_hide{display:none}.row-content{width:100%!important}.stack .column{width:100%;display:block}.mobile_hide{min-height:0;max-height:0;max-width:0;overflow:hidden;font-size:0}.desktop_hide,.desktop_hide table{display:table!important;max-height:none!important}} Presented by National Council on Aging{beacon}Trump set to reveal sweeping tariff plans
President Trump’s long-awaited day of reciprocal tariffs has arrived.
The president is expected to outline the specifics of what he's dubbed "Liberation Day" during a Rose Garden event set for 4 p.m. EDT. Watch it here.
The tariff details and full scope have been closely guarded before his remarks.
The president was reportedly still finessing his tariff plan — and deciding whether to go with a 20 percent tariff on most imports, a flat tax on imports from certain countries or customized import tax rates for other countries — ahead of his event.
Trump's 25 percent tariff on Canadian auto imports also is expected to go into effect, on top of other taxes he's levied on Canada, Mexico and China since returning to the White House in January.
The looming announcement already has sent ripples around the world in the days and weeks leading up to this afternoon.
5 key questions for Trump's speech from The Hill's Sylvan Lane.
'MAKE AMERICA WEALTHY AGAIN'?
House Minority Leader Hakeem Jeffries (D-N.Y.) took Trump and his allies in Congress to task ahead of the plan's unveiling, saying the administration's "Liberation Day" is the public's "Recession Day."
“That’s what the Trump tariffs are going to do: Crash the economy," Jeffries told reporters at the Capitol on Wednesday.
An independent analysis from the Yale Budget Lab found a 20 percent broad tariff on all imports could put a squeeze on most households.
“This is equivalent to a loss of purchasing power of $3,400-4,200 per household on average in 2024 dollars,” according to the report.
MEANWHILE...
The Senate could vote Wednesday night on legislation that would be an awkward setback on Trump's “Liberation Day" celebration.
The resolution, largely led by Democrats, would upend the emergency declaration Trump used for his tariffs on imports from Canada, and the upper chamber's GOP leaders are bracing for its passage.
It would need some Republican support, but its passage appears likely and has already caught Trump’s attention.
He took aim at Republican Sens. Mitch........© The Hill
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