Markets have reacted with caution as tariff proposals raise concerns across U.S. businesses, with warnings of possible trade partner countermeasures further affecting increased fees. President Trump is slated to announce fresh import duties on a day he refers to as "Liberation Day," following market closure at about 4:00 p.m. ET. The administration has discussed a wide range of duty rates, from a flat 20% on many items to rates targeted at certain sectors. Officials informed on Tuesday that the new charges would begin immediately, noting that active negotiations could help reduce them. A separate 25% tariff on imported steel and aluminum from all countries has been in place since March 12.
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