FLASHBACK: Trump’s ‘Liberation Day’ tariffs hit one-year mark as economists split on fallout

FLASHBACK: Trump’s ‘Liberation Day’ tariffs hit one-year mark as economists split on fallout

The revenue from tariffs has emerged as a central pillar of Trump’s economic agenda

President Donald Trump announced his "Liberation Day" tariffs on April 2, 2025, at the White House. (Brendan Smialowski/AFP/Getty Images)

Lawrence Summers, former president emeritus and professor at Harvard University, called the tariff policy "masochistic." (Ting Shen/Bloomberg via Getty Images)

Paul Krugman, a Nobel laureate, said Trump had "gone full-on crazy" after the ‘Liberation Day’ tariffs were announced. (Gene Medi/NurPhoto via Getty Images)

Christine Lagarde, president of the European Central Bank (ECB), at a rates decision news conference in Frankfurt, Hesse, Germany, on Thursday, March 19, 2026. (Alex Kraus/Bloomberg via Getty Images)

Joseph Stiglitz said the Trump administration's tariffs would "crater the economy." (Alessandro Bremec/NurPhoto via Getty Images)

Jared Bernstein, chair of the White House Council of Economic Advisors, said the Trump administration may reverse course on tariffs if economic pressures intensify. (Samuel Corum/Sipa/Bloomberg via Getty Images)

Mohamed El-Erian, chief economic advisor for Allianz, said the U.S. (Chris Ratcliffe/Bloomberg via Getty Images)

Bill Gross, co-founder of PIMCO, said he did not believe Trump would reverse course on tariffs, even if there was economic pressure. (Patrick T. Fallon/Bloomberg via Getty Images)

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