U.S. President Donald Trump is set to reveal a new approach to tariffs on Wednesday in the Rose Garden, according to his lead spokesperson Karoline Leavitt.
The White House Press Secretary mentioned on Monday that the announcement will emphasize “country-based” tariffs, with sector-specific duties playing a secondary role in the April 2 event, though their timing was deferred to Trump. Key cabinet members will be present, she noted.
“The president will be announcing a tariff plan that will roll back the unfair trade practices that have been ripping off our country for decades,” Leavitt said to reporters at the White House.
The White House Press Secretary was reticent about details regarding the rates or affected countries, merely stating that there are no exemptions at this time in response to inquiries about possible reduced tariffs on goods vital to U.S. agriculture. Trump remarked on Sunday that these reciprocal tariffs would apply to all countries, dismissing rumors that his April 2 announcement might be more limited.
Highlighting other nations, Leavitt drew attention to tariff distinctions seen from the European Union, Japan, India, and Canada, hinting that these might be prime targets of the impending tariffs.
She said that this makes it virtually impossible for American products to be imported into these markets, and it has put a lot of Americans out of business and out of work over the past several decades.
April 2 is earmarked for the introduction of extensive tariffs described by Trump as key to rebalancing global trade, bolstering American manufacturing, and directing tariff revenues to domestic projects such as tax cuts.
Prior to this, Trump has imposed tariffs on major trading partners Canada, Mexico, and China, as well as on goods like automobiles, steel, and aluminum. Further actions on copper tariffs may be imminent, with similar threats looming over pharmaceutical, semiconductor, and lumber imports.
The unpredictability of Trump’s strategies, frequently altered or postponed, has sparked concern over potential disruption to supply chains and cost increases for American consumers. This unease has contributed to ongoing downturns in Wall Street markets, which continued into Monday.
Additionally, Leavitt assured stock investors that the U.S. market will work out just fine in the Trump’s administration, just like they did in the first term.
