US President Donald Trump announced that new automobile tariffs are imminent, though not all levies set for 2 April will be implemented immediately.
The move comes as Washington seeks to balance its aggressive trade policies with potential exemptions for certain nations. While the administration has indicated some flexibility, officials maintain that strong reciprocal tariffs will remain a key priority.
Wall Street responded positively to the prospect of a more selective approach, with US stocks climbing on optimism that the measures may be less severe than initially expected.
New tariffs will target key industries, including autos, pharmaceuticals, and semiconductors, with duties expected to reach 25%. Trump defended the tariffs, stating they are essential for national security and economic independence.
Meanwhile, the White House announced a 25% secondary tariff on any country purchasing oil or gas from Venezuela, a move that sent oil prices rising.
Countries with large trade surpluses and non-tariff barriers are expected to face the most scrutiny, with Washington focusing on a list of high-priority nations dubbed the ‘Dirty 15.’
Despite international concerns, Trump remains steadfast in his efforts to shrink the United States trade deficit, which he claims is fuelled by unfair foreign practices.
While some nations, including the United Kingdom and India, have pushed for exemptions, officials suggest that avoiding tariffs entirely will be difficult.
The administration has also signalled further investigations into other sectors, raising the likelihood of additional trade restrictions in the near future. Experts believe that while some measures may be delayed, the overall direction of US trade policy remains aggressive and unpredictable.
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