On 2 April 2025, President Donald Trump and his administration, celebrated ‘Liberation Day’, as he announced a swathe of tariffs that impact nearly every country in the world. This explainer begins with a timeline of President Donald Trump’s announcements regarding tariffs. This piece also provides an explanation of what tariffs are and how they impact the economy. The impact that the US tariffs will have on the Irish and European economy is also looked at, as well as what these tariffs mean for the global trading order.