The Trump administration is planning to impose a round of fresh tariffs on April 2, a day President Trump has dubbed "liberation day." The announcement is viewed by economists as the culmination of his "America First Trade Policy," an executive order he signed on his first day in office aimed at revitalizing U.S. manufacturing.

Fossil fuel and agriculture industry executives on Wednesday criticized a plan by President Donald Trump's administration for big fees on China-linked ships entering U.S. ports, arguing at a hearing in Washington that the move would hobble their ability to export everything from coal to soybeans.

The president appeared to dispel any chance of exemptions for countries such as Canada and Mexico, which have a free-trade agreement with the U.S.

In Germany, Europe’s most populous nation and its largest economy, Trump’s tariffs stoked fears of the end of trade-based prosperity.

Europe's auto industry is in a state of shock after the US president unveiled a 25% tariff on imported vehicles. The expanding trade war is hammering auto stocks and testing strained ties with allies.

The measure is intended to bring car factories to the United States but could increase prices for consumers significantly. The president said the tariffs will start next week.

President Trump escalated his trade war with partners when he announced this week he would impose a 25-percent tariff on foreign vehicles and automobile parts. The president argued that tariffs

President Donald Trump during an Ambassador Meeting in the Cabinet Room of the White House on March 25, 2025 in Washington, DC.In less than 100 days, President Donald Trump has made major economic waves.

Trump has so far targeted nations with persistent trade imbalances with the U.S., including China, Canada and Mexico, as well as the European Union. More countries will soon be brought into his trade wars with the unveiling of reciprocal tariffs expected to hit a wider swath of nations in early April.