President Donald Trump is calling April 2nd “Liberation Day” — that’s when the president says the world can expect the biggest salvo in his widening trade war. While the specifics are not yet clear, the symbolism is: Trump wants to usher in an era of American protectionist policy that could re-order global trade.

Today on the show, Bloomberg’s Shawn Donnan joins host David Gura to discuss what we know about these new tariffs and the lessons from similarly broad tariffs in 1930. Plus, a new Bloomberg analysis of the economic impact the tariffs could have on the US economy.

Read more: Trump's Tariffs Set to Make History and Break a System MAGA Loathes

President Donald Trump is calling April 2nd &ldquo;Liberation Day&rdquo; &mdash; that&rsquo;s when the president says the world can expect the biggest salvo in his widening trade war. While the specifics are not yet clear, the symbolism is: Trump wants to usher in an era of American protectionist policy that could re-order global trade.
Today on the show, Bloomberg&rsquo;s Shawn Donnan joins host David Gura to discuss what we know about these new tariffs and the lessons from similarly broad tariffs in 1930. Plus, a new Bloomberg analysis of the economic impact the tariffs could have on the US economy.
Read more: <a href="https://www.bloomberg.com/news/features/2025-03-31/trump-s-reciprocal-tariffs-risk-us-recession-trade-turmoil">Trump's Tariffs Set to Make History and Break a System MAGA Loathes</a>

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The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

What We Know About Trump’s Planned Tariffs

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/0e9c35c0-acfe-40b5-a7df-b2b10169dca5/transcript

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