Trump Says New Tariffs Will Target All Countries Amid Global Market Jitters

Washington, D.C. – U.S. President Donald Trump has confirmed that the sweeping new tariffs expected to be announced this week will target all countries, not just those with the largest trade deficits with the United States. The move, which he has dubbed "America's Liberation Day," signals an aggressive escalation in the administration’s protectionist trade strategy.

Speaking aboard Air Force One, Trump told reporters that the new import taxes, set to be unveiled on Wednesday, would apply to “essentially all of the countries that we're talking about”, reinforcing concerns that the measures will have far-reaching consequences for the global economy.

“You’d start with all countries,” the president said, while also claiming the U.S. would be “far more generous” than other nations have been in their treatment of American trade.

Global Markets React to Tariff Shockwaves

The announcement has already spooked financial markets in Asia. Early Monday trading saw significant downturns across key indices:

• Japan's Nikkei 225: Fell by 4%

• Hong Kong's Hang Seng: Dropped 1.6%

• South Korea's Kospi: Declined by 2.5%

Market analysts cite heightened fears of a global trade war and an impending slowdown in international commerce, as countries brace for Washington’s unilateral action.

Contradictory Signals from the White House

Trump’s comments appear to contradict earlier statements from senior administration officials, including White House economic adviser Kevin Hassett, who last week suggested the tariffs would be limited to 10 to 15 countries with the most significant trade imbalances.

However, Trump’s latest remarks indicate a broader application, adding to uncertainty for allies and trading partners — including the United Kingdom, Canada, and the European Union — many of whom are reportedly preparing retaliatory measures of their own.

Economic Justifications and Job Claims

Supporters of the move within Trump’s inner circle argue that the new tariffs will generate substantial government revenue and help revive domestic manufacturing. Trade adviser Peter Navarro estimated that:

• A 10% tax on all car imports could generate $100 billion

• The full suite of tariffs could bring in $600 billion, nearly 20% of the total value of U.S. goods imports

A White House fact sheet published last week claimed that these actions could create up to 3 million American jobs.

Still, many economists and Wall Street experts remain skeptical. Fears of recession, inflation, and global supply chain disruptions are mounting. Goldman Sachs recently raised its recession forecast to 35%, citing the potential impact of these tariffs.

TikTok Deal Nearing Deadline

In a separate announcement, Trump stated that a deal for TikTok's U.S. operations is expected before a Saturday deadline, set for April 5. The short-video platform, owned by China-based ByteDance, has been given until then to finalize a sale to a non-Chinese buyer or face a complete ban in the U.S. on national security grounds.

The deadline was initially set during the Biden administration but has been actively enforced by the current White House.