1. Reciprocal Tariffs & “Liberation Day” (April 2025) On April 2, 2025, President Trump unveiled a sweeping tariff regime—nicknamed “Liberation Day”—imposing a 10% baseline tariff on virtually all imports, and steeper country-specific tariffs of up to 30% on Chinese goods, 20% on Vietnam, 50% on India, 19% on Thailand. Certain goods—like autos, steel, pharmaceuticals, and semiconductors—were exempted.These tariffs went into …
