U.S. President Donald Trump Announces Upcoming Tariff Policies
On March 24, during a White House press conference, U.S. President Donald Trump stated that he would soon unveil a tariff policy concerning imported cars. Additionally, industries such as pharmaceuticals, semiconductors, and timber will also be gradually incorporated into the taxation plan, with a formal announcement of new tariffs scheduled for April 2. He subsequently announced on his social media platform, Truth Social, that starting April 2, a 25% tariff will be imposed on the purchase of Venezuelan oil by other countries. This indicates that he has integrated geopolitical factors into economic and trade measures.
Trump Forecasts Upcoming Auto Tariffs, Adjusting Rates by Country on April 2
According to Bloomberg, Trump mentioned that the import tariffs on cars would be announced on April 2, ahead of an equivalent tariff policy. He emphasized his prior commitment to impose additional tariffs on foreign cars to protect the domestic auto industry.
He further stated that on April 2, he would formally announce a system of “country-adjusted equivalent tariffs.” This means that whatever tariff rate a country imposes on U.S. products, the U.S. will impose the same rate on that country’s products to counteract unfair trade practices.
However, he also indicated that there would be reductions for many countries, as the U.S. has been taxing these countries too much, and he feels uncomfortable charging them the same amount.
Pharmaceuticals, Timber, and Semiconductors Also Targeted, Geopolitical Factors Considered
In addition to automobiles, Trump also named other industries, including:
- Pharmaceuticals: Tariffs will be imposed in the near future.
- Timber and Semiconductors: Implementation will occur at a later date.
Furthermore, Trump announced on Truth Social that starting April 2, a 25% tariff will be imposed on the actions of other countries purchasing Venezuelan oil. This shows that, in addition to targeting trading partners, he is also incorporating geopolitical considerations into economic and trade measures.
Trump’s post on Truth Social regarding equivalent tariffs on March 24
Policy Direction Remains Confused, Concerns About Escalating Trade Friction
Although Trump has indicated that the upcoming decisions are aimed at protecting U.S. industries and retaliating equivalently, complete details have yet to be provided. This has resulted in increased uncertainty in global trade, exacerbating volatility in investment markets and further straining relationships with major trading partners.
(Concerns over tariffs easing, seven major corporations leading gains, Binance activities continuously driving BNB up)
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