This analysis from the CSIS Economics Program and Scholl Chair in International Business unpacks the April 2 tariff announcements from the White House.

Key Takeaways The U.S. has imposed heavy tariffs on a multitude of trading partners around the world, dealing a heavy blow to the system of free trade built in the decades since WWII.The "Liberation Day" tariffs,

It comes as the president recently announced a 25% tariff on imported vehicles and some auto parts among other tariffs.

Yet the key factor was surely the precipitous slide in the markets — above all the mighty US government bond market. White House officials’ brazen assertions that Trump ’s retreat was all part of a grand negotiating strategy were belied by his admissions about people “getting yippy”.

President Donald Trump's tariffs on dozens of countries took effect on Wednesday, including huge 104% duties on Chinese goods. Trump nearly doubled duties on Chinese imports, which had been set at 54% last week,

Donald Trump's "Liberation Day" tariffs have liberated the United States and the rest of the world from prosperity.