What to Expect From Trump’s Global Tariffs

President Donald Trump has dubbed April 2 “Liberation Day,” when he will unveil reciprocal tariffs to level the trading field between the United States and its 200 partners. The White House has yet to disclose details of the sweeping tariffs. Treasury Secretary Scott Bessent has said that the administration will focus on the “dirty 15,” or the top 15 percent of partners contributing the most to the United States’ negative trade balance. Meanwhile, the 25 percent tariff on autos and auto parts unveiled last week, which also takes effect on April 2, may foreshadow the magnitude of change that Trump’s reciprocal tariff policy aims to achieve....