US President Donald Trump is expected to formally unveil mass tariffs on what he's calling "Liberation Day" this Wednesday at the White House. Beyond the when and where, Yahoo Finance Washington Correspondent Ben Werschkul outlines what investors can expect from Trump's announcement.
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New developments raising the stakes for President Trump's coming promise of vast new tariffs as an array of options remain on the table for what Trump calls liberation day. For more on what we can expect, let's welcome in Yahoo Finance's Ben Worshko. Ben.
Hey Josh. Yeah. So the latest this afternoon is we have the when and the where. The White House press secretary announced that these liberation day tariffs will be unveiled, formally unveiled, Wednesday in a Rose Garden ceremony at the White House. So we know that. The big problem, as you alluded to, is we don't really know the what yet. And this is because it's a sort of Trump's set decision to make. And he is kind of taking his time on it. He could, this is widely expected to be a decision that waits up until the very last minute even though these duties could come into place. Uh the White House press secretary did offer, I think, a bit of a hint this afternoon when she listed five trading partners that she said had a disdain for the American worker. It was the European Union first, Japan, India, and Canada. And she affirmed that these are going to be country by country duties that are unveiled, in addition to some sector specific duties that are also getting implemented this week. It sort of sets to a bottom line here that these are duties that Trump has a real sort of set authority to make, and he has the ability to sort of put them into place really quickly. So it's a very unsettled thing and it could be everywhere from, as he said, kind of beneficial to countries. People might be surprised at markets. But on the other side, this idea of a universal tariff, which is now back in the conversation.
So Ben, hi, Kristine here. Do you have any sense of what's real and what's not with these tariffs?
For sure. Yeah. So there's, I think there's a pattern that's emerging with Trump here a little bit. So far we're only two months into the administration, but I think it's illustrative here is that he sets these self-imposed deadlines, promises five things, and then actually moves forward on two of them, or whatever. You know, whatever the ratio is here. The other ones get either sort of put aside or delayed. I don't, I don't have any sort of set prediction that that's going to be the case, but I do think that's an illustrative pattern that we could see play out this week. And it leads to a sense of that maybe that, sort of a last minute backtracking, even if he does impose it in a week's time. That's kind of my long way, Christine, of saying I don't know what's real or not here. The one I would definitely watch in certain is Europe. I think Europe is the one target of Trump's ire that's perhaps one of the things he's most unhappy about, is Europeans' trading European activities. And he hasn't really acted on yet. So I don't think it's a coincidence that Carolyn Levitt listed the European Union first, and I think that's going to be a big target on Wednesday. The sort of how of it is still very much, probably won't be decided for days.
Ben, thank you. Appreciate it.
Thanks.
