Trump to announce country-based tariffs April 2

Trump to announce country-based tariffs on April 2, aiming to address unfair trade practices and boost US manufacturing.

In Short

President Trump will announce new tariffs on April 2 to counter unfair trade practices and aim for reciprocity.

The tariffs will apply to various countries, with no exemptions for US farmers, and are part of his strategy to improve US manufacturing and raise revenue for domestic initiatives.

President Donald Trump will announce country-based tariffs on April 2 in the White House Rose Garden.

White House Press Secretary Karoline Leavitt confirmed that the president is focusing on reciprocal tariffs but mentioned that sectoral duties are also planned for the future.

The announcement is aimed at addressing unfair trade practices that have affected the US economy, according to Leavitt. She stated the move is necessary for reciprocity and to benefit American citizens.

Details about the rates or targeted countries were not disclosed. Leavitt indicated that there would be no exemptions for US farmers from the tariffs.

Limited scope

Trump plans to implement reciprocal tariffs for all countries, countering initial speculation regarding a limited scope.

Leavitt suggested that countries such as the European Union, Japan, India, and Canada may be subject to these tariffs due to their current trade practices which hinder US imports.

The upcoming tariff announcement is part of Trump’s broader strategy to rebalance global trade and enhance US manufacturing, while also aiming to raise revenue for domestic initiatives, including a tax cut.

Previously, Trump has imposed tariffs on Canada, Mexico, China, and specific goods like automobiles and steel. Additionally, more tariffs on copper and other imports may follow.