Dhaka, May 20 -- Donald Trump hailed a new chapter in the US's economic history on 2 April, dubbed "liberation day" by his administration, as he announced plans for an extraordinary barrage of US tariffs on the world. The chapter lasted 40 days.

Trump had been steered away from his aggressive instincts on trade during his first term, and persuaded to walk back several tariff threats in the opening months of his second. But back in early April, he was determined to plough ahead.

"April 2nd, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again," Trump declared at an event in the White House Rose Garden, before an audience ...