On April 2, in a Rose Garden ceremony, US President Donald Trump will declare “Liberation Day.” But instead of freeing the economy, the tariffs he plans to unveil could slam the brakes on global growth, ignite inflation, and throw the world into an economic tailspin. Driving the news According to a Financial Times report that is based on econometric study by Aston University, a worst-case global retaliation to Trump’s proposed 25% tariffs could hammer the world economy with a $1.4 trillion income hit and cripple global trade.