Trump Says Reciprocal Tariffs Will Target All Countries
President Donald Trump has confirmed that a sweeping tariff initiative, expected to be announced midweek, will apply to virtually all trading partners, not just those with the largest trade imbalances. The new plan, part of what the administration has dubbed “Liberation Day,” marks a significant escalation in Trump’s protectionist trade strategy.
Speaking to reporters aboard Air Force One, Trump clarified that the proposed reciprocal tariffs would not be limited to a select group of 10 to 15 countries, as previously hinted by economic advisers, but would instead extend broadly across all U.S. trading relationships. The move is intended to address what the president views as systemic trade inequities that disadvantage American exports.
Wider Scope Than Initially Indicated
While White House economic adviser Kevin Hassett had earlier suggested that the tariffs would target countries with the most severe trade imbalances, Trump’s statement indicates a wider application. He maintained that the goal is to impose duties on nations that impose tariffs on U.S. goods, essentially mirroring their charges in a bid for fairness.
Trump has long championed tariffs as a means to protect American industries and jobs, positioning them as both defensive tools and leverage for future trade negotiations. His administration has already enacted tariffs on steel, aluminum, and automobiles, in addition to increased duties on imports from China.
Economic Ripples and Market Reaction
The announcement comes at a time when financial markets are already uneasy over the potential fallout from escalating trade disputes. Economists and analysts warn that a broad imposition of reciprocal tariffs could trigger retaliatory measures from other nations, further straining global supply chains and slowing economic growth.
Within the U.S., the policy shift is generating concern about potential price increases and disruptions for industries reliant on imported materials or components. Some market watchers fear the tariff strategy could contribute to a broader economic downturn, with rising input costs being passed on to consumers.
Customised Trade Countermeasures
The president had signed a directive in February instructing U.S. trade officials to compile a country-by-country assessment of existing trade barriers and propose corresponding counter-tariffs. Though the specifics of this plan remain under wraps, the president’s remarks suggest that even countries with minor trade disputes with the U.S. could face penalties.
Last week, Trump hinted that some of the reciprocal tariffs might be imposed at rates lower than those currently charged by other countries against the U.S., allowing room for flexibility and negotiation. However, the broader intent appears to be to send a strong message about the administration’s commitment to correcting what it considers longstanding trade injustices.
With Wednesday’s official announcement looming, global attention is fixed on Washington. Trading partners and markets alike are bracing for what could be a pivotal shift in the international trade landscape.
Also see:
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