World, markets worried as Trump prepares to impose 'Liberation Day' tariffs

Mr Trump has kept rivals and allies guessing about who will be targeted and how much, promising to be “very nice” when he announces the measures on April 2, which he calls “Liberation Day”. Mr Trump has made several tariff announcements in the past but has quickly changed course.

Global stocks remain volatile on so-called “reciprocal tariffs,” which Mr. Trump says are necessary to combat trade imbalances with countries he deems unfair to the United States.

Trump said the new tariffs would be lower than those imposed by other countries on the United States. "We'll be very nice, relatively speaking, we'll be very nice," he said. White House press secretary Karoline Leavitt said the tariffs would take effect immediately after Trump announced them on April 2.

Mr. Trump is scheduled to hold a press conference at the White House at 4 p.m. (3:00 a.m. April 3, Vietnam time) called "Make America Rich Again."

US President Donald Trump will hold a 'Make America Rich Again' press conference in the White House Rose Garden at 4pm (20:00 GMT). Photo: White House

The tensions over Mr Trump’s tariffs could lead to a global trade war. Mr Trump has said he wants to revive US manufacturing, which has been decimated by deals like the North American Free Trade Agreement (NAFTA), which has seen many industries move to Mexico and Canada.

It is unclear whether the US will continue to impose 25% tariffs on Canada, Mexico and Europe, including the UK. Experts fear that Mr Trump's strategy will cause a chain reaction from major trading partners such as China, Canada and the European Union.

America's neighbors, Canada and Mexico, have been prepared but still struggling with the uncertainty. Mexican President Claudia Sheinbaum said there would be no "tit-for-tat" response to new tariffs from the United States, while Canadian Prime Minister Mark Carney said tariffs on American products would be imposed "with maximum impact on the United States" and minimal impact on Canadians.

The tensions are not limited to North America. The European Union said on April 1 that it still hopes to negotiate a solution — but that “all tools are on the table” to retaliate if necessary.

European Commission President Ursula von der Leyen asserted: "We have the largest single market in the world, we have the power to negotiate, we have the power to fight back." Meanwhile, British Prime Minister Keir Starmer spoke to Mr Trump about "productive negotiations" towards a UK-US trade deal.

At the same time, countries like China, South Korea and Japan have formed a rare alliance to promote free trade to counter Mr Trump's tariffs.

Last week, Mr. Trump announced a 25% tariff on all imported cars, as well as a 25% tariff on steel and aluminum from around the world. China responded by imposing an additional 20% tariff on all goods from the United States.

Ngoc Anh (according to AJ, Euronews, SCMP)

Source: https://www.congluan.vn/the-gioi-thi-truong-lo-lang-khi-ong-trump-chuan-bi-ap-thue-ngay-giai-phong-post341111.html