Trump Plans Tariffs On Autos, Pharmaceuticals; Urges Fed To Cut Rates

U.S. President Donald Trump announced intentions to impose new tariffs targeting automobiles, aluminum, and pharmaceuticals, highlighting what he's calling America's economic "Liberation Day" set for April 2. Trump criticized international trade practices, asserting the U.S. has been exploited economically by other nations. While Bloomberg and Wall Street Journal report these tariffs may exclude certain sectors, an administration official noted the decision remains fluid, awaiting Trump's final approval. Additionally, Trump urged the Federal Reserve to lower interest rates, expressing disappointment with the central bank's recent decision to hold rates steady. Commerce Secretary Howard Lutnick hinted at introducing an "external revenue service," enhancing tariff collection methods, signaling a more aggressive trade stance aimed at boosting the U.S. economy and addressing trade deficits.