Connect with us

Business

Canada may escape the worst as Trump declares America’s economic independence with Liberation Day tariffs

Published

5 minute read

MXM logo  MxM News

Quick Hit:

On Wednesday, President Trump declared a national emergency to implement a sweeping 10% baseline tariff on all imported goods, calling it a “Declaration of Economic Independence.” Trump said the tariffs would revitalize the domestic economy, declaring that, “April 2, 2025, will forever be remembered as the day American industry was reborn.”

Key Details:

  • The baseline 10% tariff will take effect Saturday, while targeted “reciprocal” tariffs—20% on the EU, 24% on Japan, and 17% on Israel—begin April 9th. Trump also imposed 25% tariffs on most Canadian and Mexican goods, as well as on all foreign-made cars and auto parts, effective early Thursday.

  • Trump justified the policy by citing foreign trade restrictions and long-standing deficits. He pointed to policies in Australia, the EU, Japan, and South Korea as examples of protectionist barriers that unfairly harm American workers and industries.

  • The White House estimates the 10% tariff could generate $200 billion in revenue over the next decade. Officials say the added funds would help reduce the federal deficit while giving the U.S. stronger leverage in negotiations with countries running large trade surpluses.

Diving Deeper:

President Trump on Wednesday unveiled a broad new tariff policy affecting every imported product into the United States, marking what he described as the beginning of a new economic era. Declaring a national emergency from the White House Rose Garden, the president announced a new 10% baseline tariff on all imports, alongside steeper country-specific tariffs targeting longstanding trade imbalances.

“This is our Declaration of Economic Independence,” Trump said. “Factories will come roaring back into our country — and you see it happening already.”

The tariffs, which take effect Saturday, represent a substantial increase from the pre-Trump average U.S. tariff rate and are part of what the administration is calling “Liberation Day” for American industry. Reciprocal tariffs kick in April 9th, with the administration detailing specific rates—20% for the European Union, 24% for Japan, and 17% for Israel—based on calculations tied to bilateral trade deficits.

“From 1789 to 1913, we were a tariff-backed nation,” Trump said. “The United States was proportionately the wealthiest it has ever been.” He criticized the establishment of the income tax in 1913 and blamed the 1929 economic collapse on a departure from tariff-based policies.

To underscore the move’s long-anticipated nature, Trump noted he had been warning about unfair trade for decades. “If you look at my old speeches, where I was young and very handsome… I’d be talking about how we were being ripped off by these countries,” he quipped.

The president also used the moment to renew his push for broader economic reforms, urging Congress to eliminate federal taxes on tips, overtime pay, and Social Security benefits. He also proposed allowing Americans to write off interest on domestic auto loans.

Critics of the plan warned it could raise prices for consumers, noting inflation has already risen 22% under the Biden administration. However, Trump pointed to low inflation during his first term—when he imposed more targeted tariffs—as proof his strategy can work without sparking runaway costs.

White House officials reportedly described the new baseline rate as a guardrail against countries attempting to game the system. One official explained the methodology behind the reciprocal tariffs: “The trade deficit that we have with any given country is the sum of all trade practices, the sum of all cheating,” adding that the tariffs are “half of what they could be” because “the president is lenient and he wants to be kind to the world.”

In addition to Wednesday’s sweeping changes, Trump’s administration recently imposed a 25% tariff on Chinese goods tied to fentanyl smuggling and another 25% on steel and aluminum imports—revoking previous carve-outs for countries like Brazil and South Korea. Future tariffs on semiconductors, pharmaceuticals, and raw materials such as copper and lumber are reportedly under consideration.

Trump closed his remarks with a message to foreign leaders: “To all of the foreign presidents, prime ministers, kings, queens, ambassadors… I say, ‘Terminate your own tariffs, drop your barriers.’” He declared April 2nd “the day America’s destiny was reclaimed” and promised, “This will indeed be the golden age of America.”

Todayville is a digital media and technology company. We profile unique stories and events in our community. Register and promote your community event for free.

Follow Author

Automotive

Dark Web Tesla Doxxers Used Widely-Popular Parking App Data To Find Targets, Analysis Shows

Published on

 

From the Daily Caller News Foundation

By Thomas English

A dark web doxxing website targeting Tesla owners and allies of Elon Musk appears to be compiled from hacked data originally stolen from a massive ParkMobile app breach in 2021, according to records obtained by a data privacy group. 

The site, known as DogeQuest, first appeared in March and publishes names, home addresses, contact details and other personal information tied to Tesla drivers and DOGE staff. Marketed as a hub for anti-Musk “creative expressions of protest,” the platform has been linked to real-world vandalism and remains live on the dark web. Federal investigations into DogeQuest are already underway, the New York Post first reported.

“If you’re on the hunt for a Tesla to unleash your artistic flair with a spray can, just step outside — no map needed! At DOGEQUEST, we believe in empowering creative expressions of protest that you can execute from the comfort of your own home,” the surface-web DogeQuest site reads. “DOGEQUEST neither endorses nor condemns any actions.”

A screenshot of the DogeQuest surface website captured on April 3, 2025. (Captured by Thomas English/Daily Caller News Foundation)

ObscureIQ, a data privacy group, compiled a breakdown of the data — obtained by the Daily Caller News Foundation — and determined 98.2% of records used to populate the site matched individuals affected by the 2021 ParkMobile breach.

DogeQuest originally appeared as a surface web doxxing hub, encouraging vandalism of Teslas and displaying names, addresses, contact details and, in some cases, employment information for roughly 1,700 individuals. The site used stolen ParkMobile records along with data purchased from brokers, flagging anyone who had a Tesla listed in their vehicle registration profile, according to ObscureIQ’s analysis.

The platform — now operating as “DogeQuest Unleashed” via a .onion dark web address — has also published personal details of high-value targets including senior military officials, federal employees and private sector executives in Silicon Valley. A spreadsheet reviewed by the Daily Caller News Foundation indicates several individuals targeted work areas like cybersecurity, defense contracting, public health and diplomatic policy. DOGE staff and their families appear prominently throughout the data.

A screenshot of DogeQuest's surface website, captured on April 3, 2025. (Captured by Thomas English/Daily Caller News Foundation)

A screenshot of DogeQuest’s surface website, captured on April 3, 2025. (Captured by Thomas English/Daily Caller News Foundation)

No other reporting has yet tied DogeQuest directly to the ParkMobile breach, which impacted over 21 million users in 2021. The company, which facilitates cashless parking across the U.S., quietly disclosed the breach in April of that year, admitting that “basic user information” had been accessed. ObscureIQ’s research shows that exposed data included email addresses, license plate numbers and phone numbers — enough to triangulate identity when paired with commercial data brokers.

The company agreed to a $32 million settlement to resolve a class-action lawsuit stemming from the data breach. The lawsuit alleged that ParkMobile failed to secure its Amazon Web Services cloud storage, allowing access to the data. Although payment data were reportedly not compromised, plaintiffs argued the exposed information still posed serious privacy risks — a claim now reinforced by its use in the DogeQuest doxxing campaign.

Despite federal attention, the site has proven difficult to keep offline, as the dark web mirror incorporates anonymized hosting methods, frustrating law enforcement takedown efforts.

The Department of Justice charged three suspects last week linked to physical attacks on Tesla vehicles, charging stations and dealerships across multiple states, though it has not publicly confirmed any link between those suspects and DogeQuest. Meanwhile, the FBI has acknowledged it is “actively working” on both the doxxing campaign and a parallel rise in swatting incidents affecting DOGE affiliates.

Continue Reading

Business

Will Trump’s ‘Liberation Day’ Tariffs End In Disaster Or Prosperity?

Published on

 

From the Daily Caller News Foundation

By J.D. Foster

“Liberation Day” has come. So what does it mean? Beats the hell out of me.

What we know is that President Trump’s avalanche of tariffs was to hit a peak on April 2; not end, mind you; not necessarily “the” peak, as more could be on the way; but a peak.

No Trump policy more completely breaks with America’s past than his “beautiful” tariffs on just about everything coming into the United States from just about anywhere.

Will this new policy liberate American manufacturing from foreign shackles? Will it usher in a new era of prosperity, keeping in mind the United States had for many years the consistently best-performing economy in the industrialized world, even overcoming the many inane obstacles erected by the Biden-Harris Administration?

Or will it leave the United States isolated, friendless, and weakened?

The correct answer at this point is no one knows, not even the bloviating talking heads on TV confidently predicting demise or Shangri-la.

Think of it this way. Suppose you’re a restaurant chef and a woman hands you a new recipe. Her father turns 75 soon and they want to have a party at the restaurant. The recipe is for the father’s favorite dish, one her mother made for years.

The recipe looks old, with odd ingredients and processes you’ve not seen before. Now judge it as a chef.

You can’t. Even as you start chopping and dicing, mixing ingredients as instructed, you’re not too sure how this is going to turn out. You have to wait until the dish is on the plate and taste it.

That’s the case with Trump’s tariffs. How will this all turn out? It’s too soon to tell.

The stock market sure doesn’t like it, but why should it? The investor class doesn’t understand this any better than you do. What they do understand is this new policy has upended assumptions and created enormous new uncertainties. We know that dish as those ingredients are always good for a big pullback.

Much of the confusion arises because we don’t know the underlying policy and likely this uncertainty is intentional. Trump likes keeping his counterparts, in this case our trading partners, guessing. If it means Americans are confused for a bit, Trump’s cool with that. Breaking eggs to make an omelette. It will pass and America will be great again afterward. Bon appetite.

If the core policy is to erect massive and mostly permanent tariff walls behind which American firms can hide, then we know how this will turn out: America, meet the dustbin of history.

If the core policy is to force our trading partners to deal with America fairly by reducing their trade barriers after which Trump will remove his tariffs, then this could turn out very well. Tariffs (and non-tariff barriers) in the U.S. and those of our trading partners would fall, reinvigorating the free trade that has energized prosperity for decades.

Which is it? Walls and doom or freedom and prosperity? Again, too early to tell.

Whatever else Trump does in his second term, these tariffs will define his presidency, akin in consequence to Ronald Reagan’s pro-growth tax cuts and Joe Biden’s inflation.

Trump in his second term clearly lives by the saying, “go bold or go home.” He’s got “bold” down pat. We will see over the next year or so whether he and the Republicans go home. Has he liberated Democrats from any fear of Republicans in the mid-terms or in 2028, or he’s liberated America from any fear of Democratic socialism and wokism returning in our lifetimes. The chips are all-in. Soon we will see the cards. Uncertainty, indeed.

JD Foster is the former chief economist at the Office of Management and Budget and former chief economist and senior vice president at the U.S. Chamber of Commerce. He now resides in relative freedom in the hills of Idaho.

Continue Reading

Trending

X