Assessing the long-term effects of Trump's 'Liberation Day'​

On April 2, 2025, President Donald Trump proclaimed "Liberation Day," unveiling an executive order that imposes a universal baseline tariff of 10% on imports from all countries, with significantly higher rates for about 60 nations with substantial trade surpluses. For instance, China faces a 34% tariff (in addition to an existing 20% levy), Japan 24%, and the European Union 20%. These sweeping measures have triggered global market volatility and raised concerns about potential retaliatory actions, potentially disrupting international trade and economic stability. Investors should closely...