 "Trump says won’t be any exemption on US steel, aluminum tariffs in duties taking effect on April 2")
United States President Donald Trump stated he has no plans to create exemptions on steel and aluminum tariffs, and reciprocal and sectoral tariffs will go into effect on April 2.
Last month, Trump increased tariffs on steel and aluminum imports to a flat 25 per cent, with no exemptions or exceptions, in a move intended to support US industry while escalating a trade war.
“In certain cases, both,” Trump said when asked if he would be imposing sectoral and reciprocal tariffs on April 2. “They charge us, and we charge them. Then, in addition to that, on autos, on steel, on aluminum, we’re going to have some additional,” he said.
Trump previously stated he would impose reciprocal tariffs on both US allies and adversaries starting in April.
Trump’s April 2 reciprocal tariffs
Trump previously stated that his administration is preparing reciprocal tariffs– which would impose import taxes on each country based on a calculation involving its own tariff and non-tariff barriers.
“April 2 is a liberating day for our country,” Trump said. “We’re getting back some of the wealth that very, very foolish presidents gave away because they had no clue what they were doing,” he added.
“They charge us and we charge them and then in addition to that on autos on steel on aluminum we are going to have additional tariffs,” Trump said on Sunday (March 16).
Will tariffs really come into effect?
Tariffs scheduled for April 2 are unlikely to be implemented on that exact date, as countries are expected to engage in negotiations to prevent a trade war and reach a compromise.
According to reports, the tariffs will likely focus on agricultural products, cars, semiconductors, and pharmaceuticals. Additionally, tariffs on lumber are also anticipated.
Former President Trump has specifically identified the European Union (EU) and India as targets for these tariffs.
With inputs from agencies
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