Donald Trump's so-called Liberation Day coincided with previously announced 25% tariffs on imported cars taking effect. His latest tariff salvo delivered worse-than-expected news (especially for Asian economies) and unnerved global markets.

Donald Trump announced his "Liberation Day" schedule of tariffs on 180 countries and territories on April 2 to some confusion -- especially a table he presented titled "Tariffs Charged to the U.S.A. including Currency Manipulation and Trade Barriers."