President Donald Trump wasn't messing around when he spoke of his ambitions to utilize tariffs to bring trade imbalances back into order, and this week, he's expected to announce big news regarding his tariff initiative.

According to the New York Post, Trump is expected to announce reciprocal tariffs on a long list of nations and not just the handful of 15 or so that have the biggest trade imbalances. 

Trump and his administration plan to announce the tariffs this week, even dubbing Wednesday "Liberation Day."

While aboard Air Force One, Trump made it clear that he's ready to do whatever it takes, telling reporters, "You start with all countries."

What's happening?

Notably, during a recent Fox Business interview, White House economics adviser Kevin Hassett said that the administration would be focusing on a list of 10 to 15 countries that have the worst trade imbalances, though he didn't list specific countries on that list.

The Post noted:

Trump sees tariffs as a way of protecting the domestic economy from unfair global competition and a bargaining chip for better terms for the US.

However, concerns about a trade war are unsettling markets and creating fears of a recession in the US.

Trump also made it clear that he will impose "a suite of reciprocal tariffs against nations that charge fees on US exports," with a vow to match duties in those countries.

Just a few weeks ago in February, Trump signed off on a memorandum that directed U.S. trade officials to construct a list of countries and deliver specific countermeasures for each one. So it'll be fascinating to see what countries get hit with what level of tariffs.

Trump's reciprocal tariffs are set to make history and break a global trading system loathed by MAGA.

Read the latest Big Take here https://t.co/viJSoPSvDT

— Bloomberg (@business) April 1, 2025

Trump's tariff initiatives have caused great controversy in Washington D.C., but many believe it's the best way to protect America on the global level, trade-wise.

Worth the pain

Economic experts believe that the bold tariffs could temporarily hurt the U.S. economy but will ultimately be worth it.

"This has to happen. It’s gonna hurt for a minute, but it is required for us to build our country back," one X user wrote.

Another X user wrote, "Everyone panicking about this doesn’t understand it. Reciprocol means that these countries are ALREADY imposing tariffs on the USA. He is just now applying them back."

It'll be fascinating to see what kind of impact the tariffs have on the U.S. economy in the coming months and years.