The US has said it wants to impose tariffs on a “country by country” basis, hitting any trading partners that have higher levies on the US than it imposes back.

"April 2nd, 2025, will go down as one of the most important days in modern American history," according to the White House.

Trump has repeatedly called April 2 “Liberation Day,” with promises to roll out a set of tariffs, or taxes on imports from other countries, that he says will free the U.S. from a reliance on foreign goods. To do this, Trump has said he’ll impose “reciprocal” tariffs to match the duties that other countries charge on U.S. products.