Liberation Day’ is almost upon us—will it liberate the stock market bears? Per President Donald Trump, April 2 will be Liberation Day for the U.S., the day that large tariffs are placed on imported goods.

While there are a few concerns that have investors' attention at the moment, including a forecasted contraction in first-quarter gross domestic product, along with the historic priciness of stocks, perhaps the prevailing issue for the stock market is President Donald Trump's tariff policy.

In a stunning reversal, U.S. President Donald Trump said he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China, sending global stocks rocketing higher.

Global markets surged after President Trump abruptly backed down on imposing tariffs on most nations for 90 days.

China is reaching out to other nations as the U.S. layers on more tariffs in what appears to be an attempt to form a united front to compel Washington to retreat. Days into

Oil prices settled more than $2 per barrel lower on Thursday, wiping out the last session's rally, as investors reassessed a planned pause in sweeping U.S. tariffs and focus shifted to a deepening trade war between Washington and Beijing.

Trump announced a 90-day tariff reduction to 10% for most countries but further jacked up the tax rate on Chinese imports to 125%.

President Donald Trump was set to meet with his Cabinet on Thursday in the 11 a.m. hour, according to the White House schedule. It comes after Trump changed course on tariffs on Wednesday, abruptly backing down on most of his severe levies against dozens of trading partners for 90 days while leaving in place a baseline 10% tariff on nearly every nation.