Donald Trump's Liberation Day announcement has taken place amid much fanfare, but for Americans, the real lesson in "liberation" is just beginning as they are soon about to see the sky-high prices on everyday products! Thanks to Trump's reciprocal tariffs, the internet has done what it does best: dive headfirst into meme mode. And let's just say, they did not disappoint!
"April 2nd will forever be known as Liberation Day - when America reclaimed its industries," declared US President Donald Trump on April 2, 2025.
This proclamation follows Trump's February 13 announcement of sweeping reciprocal tariffs, aimed at mirroring the duties imposed by America's trading partners.?
His administration argues that these measures will correct trade imbalances and strengthen domestic industries.
India now faces a 26% import duty on its exports to the US, which Trump said, is a "discounted reciprocal tariff."
The highest tariffs have been slapped on Cambodia (49%), Vietnam (46%), and Sri Lanka (44%), signalling Trump's focus on countries with significant trade surpluses.
Other Asian economies haven't been spared either: Bangladesh (37%), Thailand (36%), Taiwan (32%), and Indonesia (32%) are also feeling the heat.
Meanwhile, China, a long-standing target of Trump's trade agenda, will see a 34% tariff, and even the European Union isn¡¯t off the hook, with a 20% duty on its exports to the US.
As the global markets react, one thing is clear. Trump's trade war is back, and it¡¯s bigger than ever.
Check out how people are reacting to the announcement with humour:
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