The Globe and Mail reports in its Wednesday, April 2, edition that with President Donald Trump set to launch his trade war globally on Wednesday, details of "Liberation Day" remain unclear. The Globe's Mark Rendell writes that Mr. Trump plans to announce "reciprocal" tariffs on all trading partners to match their trade barriers against U.S. goods. However, how the tariffs will be calculated, when they will take effect and if there will be room for negotiation is still uncertain. Recent reports indicate the administration is debating whether to apply a flat tariff to all countries or specific duties. Confusion over U.S. trade policy has affected Canadian and American economies, reducing consumer and business confidence and leading to an equity market sell-off, with the S&P 500 down about 8 per cent and the Nasdaq Composite down about 13 per cent since mid-February. Canada has been in limbo as Mr. Trump has pursued a volatile trade agenda against the neighbours. In early March, he placed 25-per-cent tariffs on imports from Canada and Mexico. He imposed a 25-per-cent tariff on steel and aluminum, mainly impacting Canada, and a 25-per-cent levy on auto imports starting April 3.