One year after the imposition of trade tariffs - On April 2, 2025, Donald Trump declared "Liberation Day"
April 2 marks one year since US President Donald Trump imposed sweeping new tariffs while declaring "Liberation Day" in the United States, escalating a trade war with global partners and upending an old trading order.
"April 2, 2025 will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day we began to make America rich again," Trump said at an event in the White House Rose Garden, where he showed a table with the tariffs imposed.
The US Supreme Court struck down Donald Trump's sweeping tariffs, which he pursued under a law intended for use in national emergencies, dealing the Republican president a crushing defeat in a historic decision on February 20, 2026, with major implications for the global economy.
The judges upheld a lower court ruling that Trump's use of the 1977 law exceeded his authority. The judges ruled that the law in question — the International Emergency Economic Powers Act, or IEEPA — did not give Trump the power he claimed to impose tariffs. Trump, in comments at the White House after the ruling, condemned it as "horrible" and "totally flawed."
Trump has used taxes on imported goods as a key economic and foreign policy tool. The U.S. Constitution gives Congress, not the president, the authority to impose taxes and tariffs.
The tariffs have been central to a global trade war that Trump launched after beginning his second term as president, a war that has alienated trading partners, rattled financial markets and caused global economic uncertainty.
Trump has called his tariffs vital to US economic security, predicting that the country would be vulnerable and devastated without them.
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