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World braces for impact as Donald Trump’s reciprocal tariffs take effect on April 2: What to expect? | Today News
US President Donald Trump is set to unveil a sweeping tariff plan on April 2, a date he has branded as “Liberation Day.” The plan, centered around so-called reciprocal tariffs, aims to rebalance global trade, boost American manufacturing, and generate substantial revenue for domestic policy priorities. However, the broad scope of these tariffs, potentially covering all nations, has stoked fears of a global trade war.
A plan without details
Despite the imminent rollout, the White House has not specified the exact tariff rates, how they will be calculated, or which countries might qualify for exemptions. Trump has also hinted that non-tariff barriers will be factored into the calculations, but no methodology has been provided.
“You’d start with all countries, so let’s see what happens,” Trump told reporters aboard Air Force One. “I haven’t heard a rumor about 15 countries, 10 or 15.”
Key sectors and trading partners targeted
The new tariffs will build on existing levies on aluminum, steel, and autos. Trump has also pledged a 25% tariff on imported vehicles, and has suggested increasing tariffs on pharmaceuticals, lumber, semiconductors, and copper. Mexico and Canada, the two largest US trading partners, are expected to be hit with 25% tariffs.
Additionally, Trump has warned of curbs on “all oil coming out of Russia” if Moscow refuses to comply with US demands regarding Ukraine.
April 2, the ‘Liberation Day’ Trump promised
US President Donald Trump’s reciprocal tariff plan, set to begin on April 2, has sent shockwaves through the global economy. Branded as “Liberation Day” by Trump, the policy aims to rebalance trade by imposing tariffs on imports from all nations, unless they negotiate exemptions post-launch. The move, which includes hefty levies on autos, metals, and various other sectors, has sparked fears of a global trade war.
Global reactions
The announcement has triggered concerns among US allies and trading partners, with several governments scrambling to negotiate exemptions or alternative trade arrangements.
UK seeks exemption but braces for impact
The United Kingdom is among the many nations hoping to secure a deal to avoid the tariffs. Downing Street has acknowledged that the UK is “likely to be impacted” and is engaged in ongoing discussions with US trade representatives.
“When it comes to tariffs, the Prime Minister has been clear he will always act in the national interest,” said a spokesperson for UK Prime Minister Keir Starmer. “Our trade teams are continuing constructive discussions to agree on a UK-US economic prosperity deal.”
However, the UK government has signaled that talks may extend beyond April 2, raising concerns for British industries, particularly luxury car manufacturers like Rolls-Royce and Aston Martin, which face a 25% import duty.
Canada’s energy industry on edge
Canada faces a looming 10% tariff on energy exports to the US, creating unease within the nuclear power sector. The US relies on Canada for over a quarter of its uranium supply, making the tariffs particularly disruptive.
“Utilities are waiting to see what this all means before they take action,” said Karen Radosevich, manager of nuclear fuel supply at Entergy Corp. “This uncertainty is paralyzing for the industry.”
Canadian officials have warned they may retaliate with their own export duties on uranium, potentially escalating trade tensions between the two allies.
EU delays retaliatory measures
The European Union, also in the crosshairs of Trump’s tariff plan, has opted to delay its first countermeasures until mid-April. This decision allows for additional negotiation time and reconsideration of targeted US goods.
Russia and Venezuela face additional pressure
Trump has extended his tariff strategy beyond traditional trade disputes, leveraging economic pressure in geopolitical conflicts. On Sunday, he announced a secondary tariff of 25% to 50% on all Russian oil unless Moscow agrees to a ceasefire in Ukraine.
In Venezuela’s case, Trump introduced a new economic tool—”secondary tariffs”—threatening 25% tariffs on any country that purchases Venezuelan oil. The executive order, signed on Monday, gives Secretary of State Marco Rubio discretion to impose these penalties.
Venezuelan President Nicolás Maduro responded defiantly: “They can sanction and impose tariffs on whatever they want, what they cannot sanction is the love and patriotism of the Venezuelan people.”
China, Venezuela’s largest oil buyer, condemned the US move. “We call on the U.S. to stop interfering in Venezuela’s internal affairs and abolish the illegal unilateral sanctions,” said Chinese foreign ministry spokesman Guo Jiakun.
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Man Charged With Posting Bomb Instructions Used in New Orleans Attack
Federal prosecutors have filed charges against a former Army serviceman they accused of distributing instructions on how to build explosives that were used by a man who conducted a deadly attack in New Orleans on New Year’s Day last year.
The former serviceman, Jordan A. Derrick, a 40-year-old from Missouri, was charged with one count of engaging in the business of manufacturing explosive materials without a license; one count of unlawful possession of an unregistered destructive device; and one count of distributing information relating to manufacturing explosives, according to a criminal complaint unsealed on Wednesday. The three charges together carry a maximum sentence of 40 years in federal prison.
Starting in September 2023, the authorities said, Mr. Derrick was using various social media sites to share videos of himself making explosive materials, including detonators. His videos provided step-by-step instructions, and he often engaged with viewers in comments, sometimes answering their questions about the chemistry behind the explosives.
The authorities said that Mr. Derrick’s videos were downloaded by Shamsud-Din Bahar Jabbar, 42, who was accused of ramming a pickup truck into a crowd on Bourbon Street in New Orleans on Jan. 1, 2025, in a terrorist attack that killed 14 people and injured dozens. Mr. Jabbar was killed in a shootout with the police. Before the attack, Mr. Jabbar had placed two explosives on Bourbon Street, the authorities said, but they did not detonate.
The authorities later recovered two laptops and a USB drive in a house that Mr. Jabbar had rented. The USB drive contained several videos created by Mr. Derrick that provided instructions on making explosives. The authorities said the explosives they recovered were consistent with the ones Mr. Derrick had posted about.
Mr. Derrick’s lawyers did not respond to requests for comment.
Mr. Derrick was a combat engineer in the Army, where he provided personnel and vehicle support, the authorities said. He also helped supervise safety personnel during demolitions and various operations. He was honorably discharged in February 2013.
The authorities did not say whether Mr. Derrick had any communication with Mr. Jabbar, or whether the men had known each other. In some of Mr. Derrick’s videos and comments, he indicated that he was aware that his videos could be misused.
“There are a plethora of uh, moral, you know, entanglements with topics, any topic of teaching explosives, right?” he asked in one video, according to the affidavit. “Of course, the wrong people could get it.”
The authorities also said that an explosion occurred at a private residence in Odessa, Mo., on May 4, and the occupant of the residence told investigators that he had manufactured explosives after watching online tutorials from Mr. Derrick.
Mr. Derrick’s YouTube account had more than 15,000 subscribers and 20 published videos, the affidavit said. He had also posted content on other platforms, including Odysee and Patreon. Some videos were accessible to the public for free, while others required a paid subscription to view.
“My responsibility to my countrymen is to make sure that I serve the function of the Second Amendment to strengthen it,” Mr. Derrick said in one of his videos, according to the affidavit. “This is how I serve my country for real.”
Outside of the income he received through content creation, Mr. Derrick did not have any known employment. He did receive a monthly disability check from Veterans Affairs, the affidavit stated.
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Chud the Builder, Known for Racist Confrontations, Charged With Attempted Murder
A streamer known for hurling racist slurs in public settings under the nickname “Chud the Builder” was charged with attempted murder after a shooting outside a Tennessee courthouse on Wednesday, the authorities said.
The streamer, Dalton Eatherly, 28, was involved in a confrontation with an unidentified man that escalated to gunfire outside the Montgomery County Court in Clarksville, about 50 miles northwest of Nashville, the Montgomery County Sheriff’s Office said in a statement. Both men sustained gunshot wounds and were in stable condition, the office said.
In addition to attempted murder, Mr. Eatherly was charged with employing a firearm during dangerous felony, aggravated assault and reckless endangerment with a deadly weapon, the sheriff’s office said.
Mr. Eatherly, who is white, has accumulated an online audience by livestreaming confrontations in which he uses racist language toward Black people in public.
Law enforcement did not provide any details about the second man involved in Wednesday’s shooting. Mr. Eatherly posted an audio recording online of paramedics treating his wounds in which he claims he shot the man in self-defense.
A video posted by the website Clarksville Now shows Mr. Eatherly on a stretcher with a microphone attached to his lapel.
Mr. Eatherly is being held at the Montgomery County Jail, pending arraignment, the sheriff’s office said.
According to court records, Mr. Eatherly was scheduled to appear for a court hearing on Wednesday morning in an unrelated case brought by Midland Credit Management, a collections agency.
A lawyer listed in court records from a separate harassment case in which Mr. Eatherly was a defendant in November did not respond to a request for comment.
On Sunday, three days before the shooting in Clarksville, Mr. Eatherly was arrested in Nashville. According to a police affidavit, Mr. Eatherly live streamed his meal at a restaurant, Bob’s Steak and Chop House, on Saturday even though the restaurant had asked him ahead of time not to do so.
When he was confronted, Mr. Eatherly “became disruptive and started making racial statements, yelling, screaming and otherwise creating a scene,” according to the affidavit.
He then refused to pay for his $370 meal. Mr. Eatherly was charged with theft of services, disorderly conduct and resisting arrest. He was released on $5,000 bond.
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