Trump’s ‘Liberation Day’ tariffs are coming, but at a cost to U.S. alliances

The details of the tariffs are still unclear, which is one reason the markets are so on edge.

(Doug Mills | The New York Times) President Donald Trump, alongside the singer Kid Rock, signs executive orders in the Oval Office of the White House in Washington on Monday, March 31, 2025. Trump said on Monday that he has settled on a final plan for sweeping "reciprocal" tariffs, but he declined to reveal the details ahead of an announcement in the Rose Garden at 4 p.m. on Wednesday.

Trump’s ‘Liberation Day’ tariffs are coming, but at a cost to U.S. alliances

The details of the tariffs are still unclear, which is one reason the markets are so on edge.

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