Donald Trump.
Donald Trump.
President Donald Trump is set to make announcements on his tariff proposals on April 2 which he has dubbed as "Liberation Day". On Tuesday, the White House said that the reciprocal tariffs will take effect immediately and the auto tariffs will proceed as usual on April 3.
White House Press Secretary Karoline Leavitt told reporters that President Donald Trump is spending Tuesday "perfecting" his tariff strategy with the help of his trade advisors.
Leavitt hinted at the extent of the tariffs, stating that Trump is open to negotiating with foreign governments and corporate leaders seeking lower rates. She also mentioned that several countries had already reached out to the administration regarding the president’s plans.
Trump for weeks has said his reciprocal tariff plans are a move to equalise generally lower US tariff rates with those charged by other countries and counteract their non-tariff barriers that disadvantage U.S. exports.
Amid confusion on what Trump will unveil, The Washington Post reported that White House aides have drafted plans for 20 per cent tariffs on most goods imported to the US. It added that Trump’s aides are considering a plan that would raise duties on products by about 20 per cent from nearly every country rather than the more targeted approaches that have also been considered.