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Trump's upcoming tariffs 'will be effective immediately,' White House says

  • President Donald Trump plans to announce tariffs on countries imposing duties on U.S. Imports, referred to as "Liberation Day" for American trade.
  • The tariffs are projected to generate up to $100 billion in federal revenue, with Trump aiming for $600 billion to $1 trillion in revenue over the next year or two.
  • House Speaker Mike Johnson stated that the tariffs would restore fairness and help American businesses and workers, describing it as a plan that makes "a lot of common sense."
  • The White House warns that while tariffs may protect American jobs, they could lead to higher prices for U.S. Consumers and impact global financial markets.
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Portfolio.hu broke the news in on Tuesday, April 1, 2025.
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