Trump Set to Announce New Tariffs as Global Markets Brace

The moment of truth is approaching for President Donald Trump's trade tariffs against the rest of the world. Financial markets around the world are holding their breath in anticipation of what could have a significant impact on the global economy.

» Published: April 02 2025

Trump Set to Announce New Tariffs as Global Markets Brace
Photo: Richard Drew/AP/TT

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At 22 tonight, after the New York Stock Exchange closes, Trump will provide information at a press conference at the White House. What exactly will be announced during what Trump has called "Liberation Day", freely translated to "Liberation Day", is still unclear.

According to sources at the Bloomberg news agency, the types of measures to be implemented are still being discussed, even though Trump himself has previously announced that decisions have been made.

Among the proposals on the table are ones where countries will either be subject to a 10 or 20 percent tariff, and another that is more individually tailored. Fox News has, however, simultaneously reported that Trump is considering a global tariff of 20 percent.

Regardless of how they are designed, the message has been that they will come into effect immediately, but that "the President is available for negotiation", the White House Press Secretary Karoline Leavitt has announced.

New Tariffs

It has previously been announced that already announced tariffs on vehicles imported to the USA will come into effect at midnight American time.

The consequences have been predicted to be far-reaching, not just for the global economy. According to calculations made at Yale University, 20 percent tariffs would contribute to increased living costs for an American household of between $3,400-$4,200, that is, approximately 40,000 Swedish kronor.

Sharp Decline

In anticipation of tonight's announcement, futures trading on the New York Stock Exchange is currently hovering around zero. However, the recent period has been characterized by a clear decline, for example, the broad S&P 500 index has fallen 8.3 percent from a previous high level and ended with the worst quarterly performance since 2022.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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