Bloomberg Television coverage of Liberation Day Tariffs for Loeb Awards. Aired on April 2, 2025.

• Trump announced reciprocal tariffs, including 34% on China (down from 67%), 20% on the EU, 32% on Taiwan, and 24% on Japan.
• A 25% tariff on foreign-made automobiles and a 10% minimum baseline tariff were also declared.
• The S&P 500 experienced a $5 trillion market cap loss, dropping 10.53% over two trading days (April 3-4, 2025).
• Major banks like RBC, Goldman Sachs, UBS, and Barclays significantly lowered their S&P 500 year-end targets.
• The White House defends the tariffs, stating over 50 countries have begun negotiations, and Treasury Secretary Scott Bessent rejects recession fears.

The video discusses former President Trump's 'Liberation Day' speech, where he announced new reciprocal tariffs on various countries and a 25% tariff on foreign automobiles. This policy shift led to a significant $5 trillion equity market sell-off and major downgrades of S&P 500 year-end targets by leading financial institutions. The White House, however, maintains a defiant stance, calling it an 'economic revolution.'