Global stock markets are on edge as investors brace for President Donald Trump's highly anticipated announcement of his "Liberation Day" tariffs.
What To Know
Trump is scheduled to speak at the White House's Rose Garden at 4 p.m. Eastern Time. Joined by members of his cabinet, the president is expected to unveil a raft of new tariffs, as well as details on "reciprocal tariffs."
Details on the scope of these new measures have so far remained unclear, such as which countries will be targeted and the rate at which their imports will be taxed.
Politico, citing anonymous White House and administration officials, reported that even members of Trump's own inner circle were not yet sure what duties would be unveiled on Liberation Day.
There are also reports that the president may unveil a universal 20 percent tariff on all goods imported to the U.S., though his administration has yet to confirm this.
Alongside the reciprocal tariffs, the administration has also warned of a 25 percent blanket tariff on all imports from countries that purchase Venezuelan oil "on or after April 2, 2025."
How Are Stock Markets Reacting on Liberation Day?
Asia
Asian stocks have displayed a mixed performance throughout Wednesday's trading session.
The CSI 300 fell around 0.1 percent, with the MSCI China index down fractionally at the closing bell. The Shenzhen Component Index and S&P China 500 Index both gained around 0.1 percent.
The SSE Composite Index, featuring all stocks traded on the Shanghai Stock Exchange, is up 0.1 percent, with Hong Kong's Hang Seng Index marginally lower.
Japan's TOPIX closed down 0.4 percent on Wednesday, while the Nikkei 225-comprising 225 of the largest publicly traded companies on the Tokyo Stock Exchange-gained 0.3 percent.
South Korea's benchmark KOSPI Index fell 0.6 percent on Wednesday.
Europe
Europe's main indexes are all down in early trades.
The EURO STOXX 50 and STOXX EUROPE 600 indexes are down 0.9 percent and 1.0 percent, respectively, while the MSCI Europe-which measures the performance of large and mid-cap stocks across 15 developed European markets-has fallen 0.1 percent so far.
Meanwhile, the United Kingdom's FTSE 100 and FTSE 250 have both shed around 0.5 percent on Wednesday morning.
Elsewhere, Australia's S&P/ASX 200 index closed up 0.1 percent, while the FTSE/JSE Africa All Shares Index-featuring all listed companies on the Johannesburg Stock Exchange-is down 0.3 percent.
What People Are Saying
White House press secretary Karoline Leavitt, in response to a question on a universal 20 percent flat tariff, said: "The president said last night he has made a decision in a determination...and he is going to announce that decision tomorrow. I don't want to get ahead of the president, this is obviously a very big day. He is with his trade and tariff team right now, perfecting it to make sure this is a perfect deal for the American people and the American worker, and you will all find out in about 24 hours from now."
What Happens Next
Leavitt said that all new tariffs announced by the president on Wednesday would be "effective immediately."
The separate 25 percent global tariff on auto imports will take effect on April 3, with those on car parts taking effect "no later than May 3."
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This story was originally published April 2, 2025 at 6:21 AM.