One year after Liberation Day, what has been the real impact of the U.S. trade agenda?
April 2026
One year after Liberation Day, what has been the real impact of the U.S. trade agenda?
April marked the first anniversary of the so-called “Liberation Day”, the date on which President Donald Trump instituted a policy based on the widespread imposition of tariffs on virtually all countries, with rates ranging from 10% to 50%.
Although the U.S. administration anticipated more severe impacts, the global economy has shown a greater capacity for adaptation than expected, and the results have not aligned with the objectives that were initially set.