WSJ Opinion: Potomac Watch
Donald Trump Heralds a Tariff 'Liberation Day' and a Possible Third Term
Mar 31, 2025
Donald Trump is set to launch significant tariffs dubbed 'Liberation Day' on April 2, raising eyebrows about their economic consequences. The discussion also dives into the possibility of Trump running for a third presidential term, including the constitutional hurdles he may face. Strategies for his political revival are explored, alongside the implications for the Republican party following recent election outcomes. Uncertainties loom over consumer prices and international relations as Trump navigates this complex landscape.
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Quick takeaways
- Trump's upcoming tariffs, labeled 'Liberation Day,' could yield significant revenue but may also disrupt domestic investment and raise consumer prices.
- Speculation about a potential third presidential term raises questions about the 22nd Amendment, though actual success seems unlikely amid political resistance.
Deep dives
Impending Tariff Announcements
Donald Trump is set to announce significant tariff increases on April 2nd, dubbed Liberation Day, with expectations of them being higher than current rates. Tariff advisor Peter Navarro suggests these changes could generate $6 trillion over the next decade, translating to about $600 billion annually and potentially imposing an effective 20% tariff on many imports. Such an increase could substantially impact the U.S. economy, equating to about 2% of GDP, but experts caution that it may discourage domestic investment due to the uncertainty it creates. Additionally, there is concern about the distortions tariffs would cause, including higher prices for consumers and potential retaliatory measures from trading partners.
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