Trump signs Liberation Day order imposing a 10% global tariff

President Trump signed Executive Order 14257 on April 2, 2025, imposing a 10 percent baseline tariff on goods from nearly all countries, with higher country-specific reciprocal rates scheduled for April 9. The order invoked IEEPA authority, citing persistent U.S. trade deficits as a national emergency. The United Kingdom was assigned the 10 percent baseline rate, while its car exports faced a separate 25 percent tariff under Section 232. The announcement set the legal and economic context from which the subsequent US-UK bilateral negotiations would proceed.