'Liberation Day': Trump Announces Sweeping Global Tariffs

Trump unveils a sweeping set of 'reciprocal' tariffs on virtually all US trading partners in a Rose Garden ceremony on what he dubs 'Liberation Day.' The plan includes a 10% baseline tariff on all imports, with higher rates for specific countries: 34% on China (on top of existing), 20% on EU, 24% on Japan, 25% on South Korea. Markets plunge sharply in response. The announcement triggers the most acute financial market volatility since 2020.