On April 2, 2025, President Trump announced new tariffs, calling the day “Liberation Day.” A universal 10% tariff was imposed on all imports, with higher rates for 60 “worst offenders.” Notably, Japan faces a 24% tariff, South Africa 30%, Vietnam 46%,

and China 34%, bringing its total rate to 54%. Trump declared this as the day American industry was reborn and promised to “Make America Wealthy Again.”The tariffs triggered financial turmoil, with the Dow, S&P 500,