This analysis from the CSIS Economics Program and Scholl Chair in International Business unpacks the April 2 tariff announcements from the White House.

President Donald Trump's "reciprocal' tariffs against U.S. trading partners went into effect at midnight Wednesday, raising costs to import goods from China, Europe Southeast Asia and more.

Trump has repeatedly called April 2 "Liberation Day." He is expected to enact reciprocal tariffs on major trading partners, especially those that contribute the most to the $1.2 trillion U.S. trade deficit.