Trump Aides Draft Sweeping 20% Tariffs On 'At Least Most' Imports: Report

White House aides have reportedly drafted a proposal to impose sweeping tariffs of about 20% on "at least most imports" as part of President Donald Trump's transformative trade strategy. 

The Details: According to Washington Post, three people familiar with the matter said White House aides drafted the 20% tariff proposal ahead of Trump's planned announcement on Wednesday, which he is calling "Liberation Day." 

Moody’s chief economist Mark Zandi warned that this "worst-case scenario" of sweeping 20% tariffs risks triggering a potential recession and unemployment exceeding 7% if trading partners retaliate aggressively, per the Post. Stocks would drop by 25% and more than 5 million jobs would be lost by early 2027, said Zandi. 

"I'd brace for impact," he said.

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https://www.benzinga.com/news/global/25/04/44585626/trump-aides-draft-sweeping-20-tariffs-on-at-least-most-imports-report