Washington, March 20 -- White House officials are preparing to impose sweeping new tariffs on most imports by April 2, escalating US President Donald Trump's ongoing trade war with an unprecedented move that he has called it "Liberation Day," the Washington Post reported.

Through his first two months back in office, Trump has already raised tariffs on an estimated USD 800 billion in imports, targeting key trade partners like China, Mexico, and Canada. The aggressive tariffs have sent shockwaves through global markets, causing volatility on Wall Street, prompting fears of a recession, and triggering retaliation from other nations.

Despite mounting economic concerns, senior administration officials are now working to significantly expand ...