Trump slaps at least 10% tariffs on almost all imports in 'Declaration of Economic Independence': 'Half of what they are charging us' | 2 April 2025 | President Trump declared a national emergency Wednesday to impose his sweeping "Liberation Day" tariffs on almost all imports -- with a new 10% baseline rate and harsher "reciprocal" levies on dozens of countries including key allies such as European Union members, Japan, and Israel. Trump called the move a "Declaration of Economic Independence" and waited until stock trading ended for the day at 4 p.m. ET to announce the details. "This is one of the most important days, in my opinion, in American history. It's our Declaration of Economic Independence," the president, 78, said in the Rose Garden. "Factories will come roaring back into our country -- and you see it happening already. We will supercharge our domestic industrial base."