As markets continue to plummet, former President Barack Obama has voiced his opposition to Donald Trump’s proposed tariffs.
On April 2, 2025, Trump declared a broad range of tariffs, dubbed “Liberation Day.” All imports are subject to a 10% universal tax under the new policy,
With rates much higher for 60 nations designated as “worst offenders.” These include South Africa at 30%, Vietnam at 46%, Japan.
At 24%, and China, which has a high 34% tariff, bringing the whole effective rate to 54%. “We’ve been waiting for a long time,” Trump said from the Rose Garden at the White House.
“April 2, 2025, will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to ‘Make America Wealthy Again’.”
