The Globe and Mail reports in its Wednesday edition that with U.S. President Donald Trump set to take his trade war global on Wednesday, many of the details of what he is billing as "Liberation Day" remain hazy. The Globe's Mark Rendell writes that Mr. Trump has promised to announce what he calls "reciprocal" tariffs on all of the United States' trading partners on April 2, with the goal of matching the trade barriers they place on U.S. goods. This is intended to be the centrepiece of his protectionist "America First" trade policy, aimed at transforming the global trading system built after the Second World War, and boosting U.S. manufacturing. It remains unclear, however, how these tariffs will be calculated, when they will come into force and whether the U.S. will be open to negotiation. "It's peak uncertainty right now," Scotiabank chief economist Jean-François Perrault told The Globe, adding that Wednesday's announcement should at least provide some clarity to companies struggling to make heads or tails of Mr. Trump's erratic moves. Confusion over U.S. trade policy has rippled through the Canadian and American economies, denting consumer and business confidence and spurring a sell-off in equity markets.
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