|
US President Donald Trump will unveil a new tariff plan on April 2, which he has dubbed "Liberation Day," in his first Rose Garden press conference of his second term, CNN reported.
White House Press Secretary Karoline Leavitt confirmed Monday that the full cabinet will be present for the event, but specifics of the plan remain uncertain as Trump and his administration have floated multiple, sometimes conflicting, proposals in recent weeks. "Wednesday, it will be Liberation Day in America, as President Trump has so proudly dubbed it," Leavitt said. "The President will be announcing a tariff plan that will roll back the unfair trade practices that have been ripping off our country for decades. He's doing this in the best interest of the American worker." Leavitt indicated that Trump may impose reciprocal tariffs, which would match other countries' tariff rates on American goods. She highlighted examples of what the administration sees as excessive foreign tariffs, including Canada's 250 per cent tariff on American dairy products. While such tariffs often result in limited trade rather than high revenue collections, Leavitt argued that they still harm US businesses. "This makes it virtually impossible for American products to be imported into these markets, and it has put a lot of Americans out of business and out of work over the past several decades," she said. "So it's time for reciprocity, and it's time for a president to take historic change, to do what's right for the American people, and that's going to take place on Wednesday." Despite the imminent announcement, the administration has not provided clear details on which tariffs will be implemented. Over the past weeks, Trump and his advisers have discussed a range of measures, including reciprocal tariffs on all countries, the delayed enforcement of 25 per cent tariffs on Mexico and Canada, and tariffs targeting lumber, copper, pharmaceuticals, and microchips, reported CNN. While some officials have suggested that only certain countries will be affected, others, including Trump himself, have indicated that the tariffs might be more flexible. Last week, Trump stated that the tariffs would be "far more generous" than those imposed by other nations on the US However, on Air Force One Sunday, he said, "his reciprocal tariffs would be put in place on all countries as a starting point and then he'd negotiate them down if necessary." With uncertainty surrounding the details of Trump's tariff strategy, Wednesday's announcement will mark a key moment in his economic agenda. The administration has reiterated its commitment to addressing what it sees as unfair trade practices, and the Rose Garden press conference is expected to outline the scope of Trump's trade policy going forward. (ANI)
|
