US President Donald Trump maintained his stance on Sunday by stating that he will not make exemptions on steel and aluminum tariffs and will impose reciprocal tariffs, along with sectoral tariffs, on April 2. He also stated that the day will be the US’ “Liberation Day.”
Previously in February, Trump imposed a 20% tariff rate on China and a 25% levy on steel and aluminum. Still, Trump did issue temporary tariff exemptions on Canadian and Mexican goods on March 6 until April 2, following a one-month concession for the automakers.
As for the automaker industry, the White House press secretary, Karoline Leavitt, stated that Trump did recommend the chief executives of the “big 3” automakers (Ford, General Motors, and Stellantis) to relocate their production lines from Canada and Mexico to the US.
Moreover, Trump also targets India as he named the Asian country among the list of nations he claimed had charged the US “very high” during his first address at a joint session of the Congress. He stated that India imposed tariffs more than 100% on US auto.
Still, the US has not imposed any reciprocal tariffs on India yet. The country’s leading party, Bharatiya Janata Party, also informed that the two nations are planning to make an agreement that can increase market access, reduce import tariff and non-tariff barriers, and enhance the integration of the supply chain.
