# US 'Liberation Day' reciprocal tariffs announced

> Sweeping US tariffs spark a global risk-off move and retaliation threats against US agriculture.

- Date: 2025-04-02 · published 2025-04-02T12:00:00.000Z
- Category: trade · region Global
- Page: https://feedsoft.ai/events/37-us-liberation-day-reciprocal-tariffs-announced
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2025-04-03 | 1 | -1.3% | -3.9 | The April 2 'Liberation Day' tariff announcement set off a global risk-off move and raised fears of a US growth slowdown and retaliation, which eroded confidence in US assets and drove the sharp one-day dollar decline (currency/sentiment channel). |
| WTI | 2025-04-03 | 1 | -6.5% | -4.2 | The sweeping US reciprocal tariffs announced the evening before triggered a global risk-off selloff and raised fears of slower global growth and weaker oil demand, which plausibly drove WTI's sharp one-day drop. OPEC+'s same-day decision to accelerate output increases likely also contributed, but it is not among the listed candidates. |
| SOY | 2025-04-03 | 1 | -3.4% | -3.0 | The April 2 Liberation Day tariffs triggered a global risk-off move and raised the risk of retaliation against US agriculture, pressuring soybeans on April 3. |
| WTI | 2025-04-03 | 1 | -6.5% | -4.3 | The sweeping US reciprocal tariffs announced the evening before triggered a global risk-off selloff and raised fears of slower global growth and weaker oil demand, which plausibly drove WTI's sharp one-day drop. OPEC+'s same-day decision to accelerate output increases likely also contributed, but it is not among the listed candidates. |
| WTI | 2025-04-08 | 5 | -16.2% | -4.8 | The sweeping US reciprocal tariffs triggered a global risk-off selloff and raised recession fears that cut expected oil demand, which plausibly drove much of WTI's sharp drop in the days that followed (OPEC+ supply news in the same window, not among the candidates, likely also contributed). |
| WTI | 2025-04-08 | 5 | -16.2% | -4.4 | The sweeping US reciprocal tariffs triggered a global risk-off selloff and raised recession fears that cut expected oil demand, which plausibly drove much of WTI's sharp drop in the days that followed (OPEC+ supply news in the same window, not among the candidates, likely also contributed). |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-04-04 | [China announces 25% tariff on US soybeans](https://feedsoft.ai/events/3-china-announces-25-tariff-on-us-soybeans.md) | +1.2% | +0.4% |
| SOY | 2019-08-01 | [Oil slumps 7% as Trump announces additional tariffs on Chinese imports](https://feedsoft.ai/events/8492-oil-slumps-7-as-trump-announces-additional-tariffs-on-chinese-imports.md) | -1.8% | -1.3% |
| SOY | 2025-03-04 | [China announces new duties on US agricultural imports as US tariffs take effect - Fastmarkets](https://feedsoft.ai/events/8147-china-announces-new-duties-on-us-agricultural-imports-as-us-tariffs-take-effect.md) | +0.2% | +1.7% |
| SOY | 2018-06-15 | [China announces retaliatory tariffs on $34 billion worth of US goods, including agriculture products](https://feedsoft.ai/events/64398-china-announces-retaliatory-tariffs-on-34-billion-worth-of-us-goods-including.md) | -5.0% | -12.2% |
| SOY | 2018-06-22 | [China's Retaliation to Trump's Tariffs \| PIIE](https://feedsoft.ai/events/64584-china-s-retaliation-to-trump-s-tariffs-piie.md) | -2.2% | -3.5% |
| CORN | 2018-04-04 | [China announces 25% tariff on US soybeans](https://feedsoft.ai/events/3-china-announces-25-tariff-on-us-soybeans.md) | +0.2% | +1.9% |
| CORN | 2025-03-28 | [Peso depreciates in response to Trump auto tariffs announcement](https://feedsoft.ai/events/25799-peso-depreciates-in-response-to-trump-auto-tariffs-announcement.md) | +0.5% | +5.5% |
| CORN | 2018-05-31 | [USD/MXN soars to 14-month highs on US tariffs announcement — Octa](https://feedsoft.ai/events/65225-usd-mxn-soars-to-14-month-highs-on-us-tariffs-announcement-octa.md) | -2.2% | -7.3% |

## Sources

- Wikipedia: https://en.wikipedia.org/wiki/Liberation_Day_tariffs

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.