One Year After "Liberation Day," Did Trump's Tariffs Deliver?

One Year After "Liberation Day," Did Trump's Tariffs Deliver?

From The Deduction by Tax Foundation

April 2, 2026 · 39 min

About this episode

The episode analyzes the impact of Trump's tariffs announced on Liberation Day one year later.

On April 2, 2025, President Trump announced sweeping "reciprocal" tariffs on Liberation Day, promising an investment boom, massive revenue, debt reduction, and lower prices. One year later, Kyle Hulehan and Erica York dig into the data to see how those promises held up. 0:00 - Liberation Day speech recap 2:00 - Were the tariffs actually "reciprocal"? 5:30 - The real math behind the tariff formula 10:00 - Market reactions and policy chaos 14:00 - The promised investment boom that never arrive...

People in this episode

Guests: Kyle Hulehan, Erica York

Topics covered

  • tariffs
  • economic policy
  • market reactions
  • investment
  • government
  • trade

Keywords

  • tariffs
  • Trump
  • Liberation Day
  • economic impact
  • investment boom
  • market reactions
  • policy chaos

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