Trump's Liberation Day: tldr

Trump will announce tariffs at Rose Garden April 2nd at 4pm ET

*Mexico, Canada, China, Japan, South Korea, EU and others has said they will put retaliatory tariffs if US goes ahead with reciprocal tariffs.

*Trump said TikTok deal might link to China tariffs.

*Trump said will impose additional tariffs on Russian oil if unable to make a deal on Ukraine.

*Trump threatens bombing & secondary tariffs on Iran if Tehran does not make a deal on nuclear program.

*Trump said he's committed to sectoral tariffs.

*Trump said tariffs will be mutual, but we will be more pleasant, relatively lenient on tariffs... It's reciprocal, but we might be even nicer than that.

*Trump said If you do tariff exemptions for one, you have to do for all...There will be flexibility on tariffs. Basically it's reciprocal.

*Tariffs impact on US including imposed & threatened tariffs: $785B (world), $606B (EU), $445B (china) and $727B or ~$100B (Canada & Mexico depending on USMCA goods get targeted or not)

*Trump has made up his mind on tariffs, on what he’ll announce on April 2nd.

*Reciprocal Tariffs will be on all countries and will take effect immediately following the announcement.

Update: Three options are in discussion:
1. 20% universal tariff on virtually all imports.
2. Reciprocal plan that would apply different tariffs to different countries.
3. An across-the-board tariff on a subset of nations that likely would not be as high as the 20% universal tariff option.
*It still isn't clear which option Trump will choose.