Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.

Trump has repeatedly called April 2 "Liberation Day." He is expected to enact reciprocal tariffs on major trading partners, especially those that contribute the most to the $1.2 trillion U.S. trade deficit.

President Donald Trump has declared Wednesday "Liberation Day," when he is expected to roll out a tariff plan that will emphasize his "America First" mission.

Trump imposed the steepest US tariffs in more than a century, stepping up his campaign to reshape global trade.

The tariffs hit allies and rivals alike. The Republican president is placing a 10% baseline tax on trading partners around the globe and is setting heftier levies on major partners with which the U.S.

President Donald Trump on Wednesday announced far-reaching new tariffs on nearly all U.S. trading partners -- a 34% tax on imports from China and 20% on the European Union, among others -- that threaten to dismantle much of the architecture of the global economy and trigger broader trade wars.

President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Mark Schiefelbein) This is a photo collection curated by AP photo editors.

Stock futures fell early Wednesday as investors anxiously awaited President Donald Trump’s global tariffs plan. Liberation Day, as Trump has called it, is finally here and all will be revealed in an announcement in the Rose Garden scheduled for 4 p.

President Donald Trump has announced plans for sweeping tariffs. He said Wednesday, “Our country has been looted, pillaged, raped, plundered” by other nations. The aggressive rhetoric came as Trump sh