President Donald Trump fulfilled his campaign promise to impose new tariffs, calling it 'Liberation Day' and accusing other nations of 'pillaging and plundering' the US. The tariffs include a 25% tariff on steel and aluminum, a 20% tariff on shipments from China, and up to 25% on goods from Canada and Mexico. Trump has also threatened to impose tariffs on foreign cars, wine and spirits from the EU, and various other goods. The tariffs have caused stock market turmoil and raised concerns about a recession and price hikes.