Trump has repeatedly called April 2 “Liberation Day,” with promises to roll out a set of tariffs, or taxes on imports from other countries, that he says will free the U.S. from a reliance on foreign goods. To do this, Trump has said he’ll impose “reciprocal” tariffs to match the duties that other countries charge on U.S. products.

President Donald Trump is touting April 2 as the day the U.S. gets "money, and respect, back." Here's why he's calling it "Liberation Day."