# Trump's Liberation Day is adding to already turbulent trade discussions between the US and other nations

> President Trump's Liberation Day announced a 10% baseline tariff on all US imports, with higher tariffs on about 60 countries deemed the worst offenders. China responded with a 34% tariff on US products and restrictions on some American companies. Mexico had not announced retaliation as of Friday.

- Date: 2025-04-04 · published 2025-04-04T12:00:00.000Z
- Category: trade · region US · magnitude high
- Page: https://feedsoft.ai/events/5648-trump-s-liberation-day-is-adding-to-already-turbulent-trade-discussions-between
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Broad reciprocal tariffs and retaliation threaten US agricultural export volumes, especially dairy and soybeans to Southeast Asia and China. Lower export demand would pressure domestic prices.

## Read by commodity

- SOY: bearish ▼
- MILK: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2025-04-02 | 1 | -8.2% | -6.1 | The Liberation Day tariff announcement (Apr 2) and expected retaliation raised fears of lost dairy export demand and triggered broad risk-off selling across commodities, which plausibly contributed to the sharp drop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2018-08-31 | [Canadian Dollar: NAFTA on Life-support after Trudeau says "We're Not Going to Do That" to the Dairy Sector and Trump Weighs In](https://feedsoft.ai/events/63769-canadian-dollar-nafta-on-life-support-after-trudeau-says-we-re-not-going-to-do.md) | -1.0% | -1.6% |
| MILK | 2017-05-03 | [U.S. farm groups seek trade stability amid turbulence over NAFTA \| 2017-05-03 \| Agri-Pulse \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/70980-u-s-farm-groups-seek-trade-stability-amid-turbulence-over-nafta-2017-05-03-agri.md) | +2.2% | +2.8% |
| MILK | 2020-01-04 | [US dairy farmers battle extinction Trump trade wars lower milk prices](https://feedsoft.ai/events/4661-us-dairy-farmers-battle-extinction-trump-trade-wars-lower-milk-prices.md) | +0.6% | +0.6% |
| MILK | 2025-03-04 | [Dairy Markets on Edge: Tariffs and Trade Uncertainty Shake Prices - Dairy Herd](https://feedsoft.ai/events/25587-dairy-markets-on-edge-tariffs-and-trade-uncertainty-shake-prices-dairy-herd.md) | -8.9% | -7.7% |
| MILK | 2025-03-05 | [What’s in the News: Dairy Markets Weaken Amid Tariffs, Falling Prices, and Lab-Grown Milk - Dairy Herd](https://feedsoft.ai/events/4703-what-s-in-the-news-dairy-markets-weaken-amid-tariffs-falling-prices-and-lab.md) | -8.6% | -7.8% |
| SOY | 2020-10-27 | [Trump's phase one trade deal with China and the US election \| PIIE](https://feedsoft.ai/events/50504-trump-s-phase-one-trade-deal-with-china-and-the-us-election-piie.md) | -3.4% | +9.5% |
| SOY | 2018-06-09 | [Trade-War Drums: Is Mexico Ready to Fire at the US Corn Belt? \| Wolf Street](https://feedsoft.ai/events/64507-trade-war-drums-is-mexico-ready-to-fire-at-the-us-corn-belt-wolf-street.md) | -6.6% | -12.1% |
| SOY | 2018-11-14 | [Amid Trade Spat With US, China To Boost Grain Import From Belt And Road Nations](https://feedsoft.ai/events/61934-amid-trade-spat-with-us-china-to-boost-grain-import-from-belt-and-road-nations.md) | +1.6% | +4.6% |

## Sources

- farmersadvance.com: https://www.farmersadvance.com/story/news/2025/04/04/trumps-liberation-day-is-adding-to-already-turbulent-trade-discussions/82879704007/

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