Since the new Trump administration took office, the news from the US has been coming thick and fast, causing a stir. In fact, „Liberation Day“ marks a turning point in US trade policy that harbors considerable risks for the global economy. With its „America First“ doctrine, the USA is pursuing the goal of forcing not only its own companies, but above all foreign companies, to invest in the American market if they want to avoid higher tariffs. This is new insofar as the Trump administration is trying to achieve this using particularly harsh methods.