President Trump imposes 10% across-the-board tariffs on all imports and higher rates for some nations.

Today we're standing up for the American worker and we are finally putting America first.

Plus, can tariffs actually push businesses to come back to the U.S.?

And in a new global trade war, there's a country that may emerge as a winner.

It's Wednesday, April 2nd.

I'm Alex Oslo for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that move the world today.

In a speech in the Rose Garden this afternoon, top headlines and business stories that move the world today.

In a speech in the Rose Garden this afternoon, President Trump announced details of a sweeping tariff plan, declaring April 2nd Liberation Day for U.S. trade policy.

April 2nd, 2025 will forever be remembered as the day American industry was reborn, the day America's destiny

was reclaimed, and the day that we began to make America wealthy again.

The president said the U.S. will impose a 10% across-the-board tariff on all imports, and even higher rates for other nations

the White House considers bad actors on trade. The president called these reciprocal tariffs.

Reciprocal, that means they do it to us and we do it to them. Very simple. It can't get any

simpler than that. Later, Trump held up a chart with a list of countries, saying it was too windy to put on an easel.

He began to read off the list with the tariffs the countries it pose on the United States,

and then the tariff he said the U.S. would levy in response.

He said that the U.S. was going to be, quote, charging a discounted reciprocal tariff because the U.S. is kind. For China, the U.S.

is levying a 34% tariff, and for Europe, quote, we're going to charge them 20% and Japan 24%.

The plan represents a fundamental rethinking of U.S. trade policy on a scale not seen since the post-World

World War II era when the U.S. and other nations

in 1947 signed the General Agreement on Tariffs and Trade, a treaty aimed at lowering tariffs and

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