Trump's SHOCKING Tariff Announcement: Markets PLUNGE, Senators DEFY Him!

2025-04-03 12:00:13.208

President Donald Trump announced sweeping new tariffs on goods from nearly all countries, a move he dubbed "Liberation Day." The announcement caused immediate and significant drops in global markets, with the S&P 500 and Nasdaq 100 futures plunging over three percent. Tech giants like Apple and Tesla saw even steeper declines in after-hours trading. The tariffs, ranging from a baseline 10 percent to much higher rates for countries deemed "worst offenders" (including China), are set to take effect within days. This action has been met with strong opposition, including a Senate resolution opposing tariffs against Canada, passed with support from four Republican senators. Meanwhile, Secretary of State Marco Rubio attempted to downplay concerns about the impact of these tariffs on America's role in NATO. Despite the market turmoil, Trump expressed confidence in the long-term economic benefits of his policies, pointing to increased investment from companies like Apple.