White House Signals Major Tariff Hike on April 2
The White House has reaffirmed its commitment to imposing significant tariffs on April 2, marking a decisive escalation in President Donald Trump’s trade war. According to Press Secretary Karoline Leavitt, the administration is set to announce sweeping measures aimed at addressing what it perceives as unfair trade practices by foreign nations.
Speaking to reporters on Thursday, Leavitt emphasized that the president remains resolute in his stance on trade reciprocity. “There will be big announcements when it comes to reciprocal trade,” she said, underlining Trump’s long-held view that America has been exploited in global trade agreements. “There will be big tariffs that will be going into effect.”
Uncertainty Over Implementation
Leavitt’s assertion follows recent remarks by Treasury Secretary Scott Bessent, who hinted at potential delays in enforcing certain duties. Bessent indicated that on April 2, the U.S. government would present foreign nations with an assessment of their tariff rates and non-tariff trade barriers, including currency manipulation and labor suppression.
“We are going to go to them and say, look, here’s where we think the tariff levels are, non-tariff barriers, currency manipulation, unfair funding, labor suppression,” Bessent said in an interview with Fox Business’ Maria Bartiromo. He suggested that some duties might not be imposed immediately if trading partners swiftly engage in negotiations. “If countries stop their practices, we will not put up the tariff wall,” he added.
Global Trade Tensions on the Rise
Despite Bessent’s remarks, Leavitt’s comments suggest that the White House remains committed to taking aggressive action. Trump has repeatedly accused both allies and rivals of taking advantage of U.S. trade policies, and his administration is now poised to follow through with retaliatory measures.
However, economic analysts warn that such tariff hikes could trigger retaliatory actions from key trading partners, further straining diplomatic relations and potentially harming U.S. businesses reliant on global supply chains. The exact details of the tariffs remain undisclosed, leaving industries and international markets in a state of uncertainty.
With just days until the April 2 deadline, the global trade community is bracing for a potential economic shake-up that could redefine U.S. trade policy and its standing in the international market.
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White House Signals Major Tariff Hike on April 2