Implementation of Reciprocal Tariffs on April 2! Trump Predicts Upcoming Announcement of Auto Tariffs, Jokingly Remarks: “Sorry for Collecting Too Much”
US President Donald Trump Announces Upcoming Tariff Policy for Imported Cars
On March 24, at a White House press conference, President Donald Trump stated that he would soon announce a tariff policy regarding imported cars. Industries such as pharmaceuticals, semiconductors, and timber will also gradually be included in the taxation plan, with a formal announcement of the new wave of tariffs scheduled for April 2. He later declared on his social media platform, Truth Social, that starting from April 2, a 25% tariff will be imposed on the actions of other countries purchasing Venezuelan oil. This demonstrates that he has incorporated geopolitical factors into economic and trade measures.
Trump Previews Upcoming Auto Tariffs, Adjusting Rates by Country on April 2
According to Bloomberg, Trump indicated that tariffs on imported cars would be announced on April 2, before the corresponding tariff policy is released. He emphasized that he had previously committed to imposing additional tariffs on foreign cars to protect the domestic automotive industry.
He further stated that on April 2, he would officially announce a system of “country-adjusted reciprocal tariffs.” This means that if a country imposes tariffs on American products, the U.S. will impose the same rate on that country’s products to counteract unfair trade practices. However, he also mentioned that many countries would be granted reductions, as the U.S. has been taxing these countries too heavily, and he feels uncomfortable charging them the same amount.
Pharmaceuticals, Timber, and Semiconductors Also Identified, Geopolitics Considered in Taxation
In addition to automobiles, Trump also named other industries, including:
- Pharmaceuticals: Tariffs will be imposed soon.
- Timber and Semiconductors: To be implemented at some point in the future.
Trump further announced on Truth Social that starting April 2, a 25% tariff would be imposed on the actions of other countries purchasing Venezuelan oil. This indicates that he is not only targeting trade partners but also integrating geopolitical factors into economic and trade measures.
Trump Discusses Reciprocal Tariffs on Truth Social on March 24
Policy Direction Remains Confused, Concerns Over Escalating Trade Friction
Although Trump has previewed upcoming decisions as measures to protect American industries and retaliate proportionately, complete details have yet to be revealed. This has led to uncertainty in global trade, exacerbating market volatility and increasing tensions between the U.S. and its major trade partners.
(Concerns Over Tariffs Eased, Seven Giants Lead Gains, Binance Activities Continuously Boost BNB)
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