It comes as the president recently announced a 25% tariff on imported vehicles and some auto parts among other tariffs.

Problem is, economists widely agree that tariffs, if applied broadly, result in higher prices for consumer goods regardless of where they are being made, push other countries to raise their own tariffs instead of lowering them and,

President Trump unveiled a universal import duty of 10% on all products, as well as reciprocal tariffs on imports from 60 nations.

Trump has repeatedly called April 2 “Liberation Day,” with promises to roll out a set of tariffs, or taxes on imports from other countries, that he says will free the U.S. from a reliance on foreign goods. To do this, Trump has said he’ll impose “reciprocal” tariffs to match the duties that other countries charge on U.S. products.

The U.S. and global markets have already started to feel the impact of Trump’s tariffs, with the U.S. stock market taking the worst hit thus far. The Wall Street slump and global dip in stocks have sparked fresh fears in economists and concerns as to whether the U.S. is heading into a recession.

In a YouGov poll conducted shortly after Trump’s “Liberation Day” announcement, 51% of respondents said they either strongly (40%) or somewhat (11%) disapproved of the new tariffs. In contrast, about one-third of respondents, 34%, said they either strongly (15%) or somewhat (19%) approve of the new policy.

President Trump prepares to unveil ‘very kind’ tariffs as critics warn of a global trade war and a slowdown in growth.

Trump has repeatedly called April 2 “Liberation Day,” with promises to roll out a set of tariffs, or taxes on imports from other countries, that he says will free the U.S. from a reliance on foreign goods.

As the trade wars launched by U.S. President Donald Trump continue to escalate, all eyes are on Wednesday. Trump has repeatedly called April 2 “Liberation Day,” with promises to roll out a set of tariffs,