Liberation Day tariffs

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The Liberation Day tariffs refer to a broad package of import duties announced by U.S. President Donald Trump on April 2, 2025—a date he called "Liberation Day". In a White House Rose Garden ceremony, Trump signed Executive Order 14257, titled Regulating Imports With a Reciprocal Tariff to Rectify Trade Practices That Contribute to Large and Persistent Annual United States Goods Trade Deficits. This order declared a national emergency over the United States' "large and persistent" trade deficit and invoked the International Emergency Economic Powers Act (IEEPA) to authorize sweeping tariffs on foreign imports.

Trump also signed Executive Order 14256, titled Further Amendment to Duties Addressing the Synthetic Opioid Supply Chain in the People's Republic of China as Applied to Low-Value Imports, which closed the de minimis exemption for China, further escalating the China–United States trade war.

Executive Order 14257 imposed a 10% baseline tariff on imports from nearly all countries beginning April 5, with higher rates applied to countries with which the United States carried the largest trade deficits starting April 9. The Trump administration called the measures "reciprocal", asserting they were intended to mirror and counteract foreign trade barriers imposed on U.S. exports. Trade analysts and economists broadly rejected this characterization, noting that the tariffs often exceeded those imposed by trading partners and included countries with which the United States had a trade surplus. Economists also argued that the formula the administration used to calculate the "reciprocal" tariffs was overly simplistic and based on flawed economic reasoning.

The "Liberation Day" tariff announcement led to a global market crash. In response, the White House postponed the April 9 tariff increases for 90 days to allow time for negotiations. As of June 2025, the United States had reached agreements with the United Kingdom and China, though substantial tariffs remained in place under the new arrangements. The 90 day pause expires on July 8, 2025.

On May 28, 2025, the United States Court of International Trade ruled Trump had overstepped his authority in imposing tariffs under the IEEPA and ordered the "Liberation Day" tariffs vacated.^[1][2] The United States Court of Appeals for the Federal Circuit issued a stay while it considered the administration's appeal, allowing the tariffs to remain in effect.^[3]