Vietnam had a trade surplus of $123.5 billion with the U.S. last year, leading analysts to warn earlier this year that the country was most at risk. Hanoi had tried to win itself a reprieve by preemptively cutting import duties in the lead-up to April 2.

Donald Trump has dubbed Wednesday April 2, 2025, "Liberation Day." What is it, and how does it apply to tariffs in the United States?

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Today’s Forbes Daily newsletter covers Wall Street souring on Trump, the biggest billionaire tariff losers, DOGE cuts worsen March layoffs and more.

The Opera House is set to reopen after five years to host two Liberation Day concerts as part of celebrations to mark the 80th anniversary of the end of the German occupation. The opening concert at the Grade II listed building featuring the Philharmonia Orchestra will include World War Two songs performed by Jersey singer Georgie Mae-Bishop.

In a chaotic week for nearly every industry in Washington, nothing embodied the oddness of the moment for Big Tech more than a single photo: the ultra-progressive former Federal Trade Commission Chair Lina Khan and ultra-conservative populist Steve Bannon posing, with tight-lipped smiles, together.

Liberation Day,” the ball is in the court of other countries to respond to President Donald Trump’s tariffs. The statement by European Commission President Ursula von der Leyen encapsulated [the mixed