President Trump is promising that his April 2 "Liberation Day" volley of tariffs will "make America wealthy again" by repatriating manufacturing jobs and reviving demand for American-made products. But many economists are taking a different view,

Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.

Here's how Trump's latest tariffs could impact mortgage rates and homebuilding costs in a market that's already fraught with affordability woes.

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.

The diagnosis was delusional on Truth Social early Thursday. President Donald Trump cast himself as a doctor performing surgery in a post regarding his “Liberation Day” onslaught of trade-war escalating tariffs.

In a YouGov poll conducted shortly after Trump’s “Liberation Day” announcement, 51% of respondents said they either strongly (40%) or somewhat (11%) disapproved of the new tariffs. In contrast, about one-third of respondents, 34%, said they either strongly (15%) or somewhat (19%) approve of the new policy.

Some countries are promising swift countermeasures; others are asking for an opportunity to negotiate with the U.S. to avoid trade war.

JD Foster is the former chief economist at the Office of Management and Budget and former chief economist and senior vice president at the U.S. Chamber of Commerce. He now resides in relative freedom in the hills of Idaho.

Four Senate Republicans helped pass a Democratic resolution opposing President Donald Trump's tariffs on Canada after White House "Liberation Day" event.