# 'Liberation Day' Reciprocal Tariffs

> Announced a universal 10% tariff on nearly all imports plus higher 'reciprocal' rates (up to ~50%) on dozens of trading partners.

Donald Trump · Trade & Economy · Executive Order · EO 14257 · Apr 2, 2025
Official record: https://www.federalregister.gov/d/2025-06063

## What happened

Announced a universal 10% tariff on nearly all imports plus higher 'reciprocal' rates (up to ~50%) on dozens of trading partners, the broadest U.S. tariff action in generations.

## How it happened

Executive order declaring a trade-deficit national emergency under IEEPA; rates were repeatedly modified, paused, and litigated over following months.

## Documented impact

- [negative / substantiated] Pushed the U.S. average effective tariff rate to the highest level since the 1930s. — Estimates put the average rate around 13–16% by late 2025 (up from ~2.6% in January), the highest since 1935.
- [negative / substantiated] Raised consumer prices and acted as a large tax increase on households. — Harvard Pricing Lab found tariff pass-through added ~0.76 pts to CPI through Oct 2025; the Tax Foundation called it the largest tax increase as a share of GDP since 1993 (~$1,500/household in 2026).
- [mixed / contested] Generated tariff revenue and trade negotiations without an immediate recession. — Customs revenue rose and several partners negotiated deals; the feared 2025 crash did not materialize, though economists debate longer-term costs.
- [negative / substantiated] Struck down by the Supreme Court in February 2026. — In a 6-3 ruling (Learning Resources v. Trump), the Court held IEEPA does not authorize tariffs; these tariffs terminated Feb 24, 2026 and were partly replaced under Section 122 of the Trade Act of 1974.

## Public opinion

Substantially increasing tariffs

Approve: 37% · Disapprove: 60%

Views have been stable and net-negative since the tariffs launched in April 2025; ~71% of Republicans approve.

Source: Pew Research Center, Jan 2026

## Sources

- [Federal Register: EO 14257](https://www.federalregister.gov/d/2025-06063)
- [Tax Foundation: tracking the economic impact](https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/)
- [J.P. Morgan: US tariffs impact](https://www.jpmorgan.com/insights/global-research/current-events/us-tariffs)
- [Belfer Center: why tariffs didn't crash the economy](https://www.belfercenter.org/research-analysis/why-didnt-trumps-tariffs-crash-economy-2025)

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Canonical: https://eo.alanwizemann.com/eo/trump/liberation-day-reciprocal-tariffs