Trump announces massive new 'Liberation Day' tariffs. Here's how they might affect you.

On Wednesday, President Trump announced that the United States will hit back at any country that imposes trade barriers on American exports by subjecting them to sweeping “reciprocal” tariffs — an unprecedented move that threatens to upend the global economy, experts say.

For Trump, disruption appears to be the point. “My fellow Americans, this is Liberation Day," he said in a speech from the Rose Garden. "For decades our country has been looted, pillaged, raped and plundered by nations near and far. ... Foreign leaders have stolen our jobs, foreign cheaters have ransacked our factories and foreign scavengers have torn apart our once beautiful American dream."