President Trump is poised to announce reciprocal tariffs on April 2, which he has dubbed "Liberation Day." This announcement is part of his broader strategy emphasizing tariffs during his 2024 presidential campaign and since taking office in January, aiming to address trade imbalances. The forthcoming tariffs, designed to reflect the burden each country imposes on the U.S., may include items like value-added taxes and could average around 15%, as indicated by Goldman Sachs economists. 

A recent Benzinga poll, conducted from March 25-28, 2025, among 141 adults, found that 48% believe the market will crash after Trump's tariff announcement, while 29% expect little or no impact, and 23% foresee a market increase. The market uncertainty surrounding these tariffs has already triggered global sell-offs and volatility, potentially causing U.S. households and businesses to curb spending, thus raising the likelihood of a recession to 35%, according to Goldman Sachs economists, with companies like Tesla and Nvidia reporting significant year-to-date losses.