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What lies ahead for tariffs on "liberation day"?
(March 28, 2025) - Everett Eissenstat, Ludmilla Kasulke and Anna Baramidze of Squire Patton Boggs discuss the laws regarding tariffs in light of the expected imposition of tariffs on April 2. Tariff authority rests with Congress under Article I, Section 8 of the US Constitution. Congress raises or lowers tariffs through legislation.
Five Questions in Advance of April 2 “Liberation Day”
Unilateral tariffs are a cornerstone of President Trump’s economic agenda. President Trump has promised to announce imposition of reciprocal tariffs against a wide swath of trading partners on April 2, a date the President calls “liberation day” for the US economy. While the White House is still deliberating on exactly how it will implement President Trump’s April 2 tariff plans, they could be highly disruptive with wide ranging effects on the US and global economy.
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