This analysis from the CSIS Economics Program and Scholl Chair in International Business unpacks the April 2 tariff announcements from the White House.

Key Takeaways The U.S. has imposed heavy tariffs on a multitude of trading partners around the world, dealing a heavy blow to the system of free trade built in the decades since WWII.The "Liberation Day" tariffs,

President Trump announced reciprocal tariffs on about 90 countries, including China and the European Union. Here's the list.

The announcement of Donald Trump's so-called "reciprocal tariffs" on 2 April - what he called "liberation day" - sent a shockwave through the global trading system and financial markets. And the President's 90-day pause on some of these tariffs on 9 April set off a relief rally in stock markets.

President Donald Trump’s trade policy just took another sharp turn, as Trump announced on Truth Social that he was jacking China tariffs higher to 125 percent but issuing a 90-day pause for many of the “Liberation Day” tariffs that had begun to squeeze other countries around the world today.

Donald Trump's "Liberation Day" tariffs have liberated the United States and the rest of the world from prosperity.

Several new, sweeping taxes on goods from other countries are already here — and more took effect on Wednesday. Trump has promised higher rates for his latest and most severe volley of duties, which he calls “reciprocal” tariffs.

A number of import taxes are still in place, and with many back-and-forth tariff actions and threats, it can be tough to keep track of where things stand.

While tariffs have long been cornerstone of Trump’s economic policy, the market instability triggered by the president’s action could lead some to jump off the Trump train. Th

Yet the key factor was surely the precipitous slide in the markets — above all the mighty US government bond market. White House officials’ brazen assertions that Trump ’s retreat was all part of a grand negotiating strategy were belied by his admissions about people “getting yippy”.

President Donald Trump's tariffs on dozens of countries took effect on Wednesday, including huge 104% duties on Chinese goods. Trump nearly doubled duties on Chinese imports, which had been set at 54% last week,