White House plans to tighten scope of tariff policy, imposing reciprocal tariffs only on major trading partners
According to the Wall Street Journal, the White House is tightening the scope of its tariff policy for 2 April, with tariffs originally planned to be announced on the same day for specific industries such as automobiles, pharmaceuticals, and semiconductors expected to be delayed, and reciprocal tariffs implemented only for major trading partners.
These countries broadly include Australia, Brazil, Canada, China, the European Union, India, Japan, South Korea, Mexico, Russia and Vietnam, which account for a major portion of U.S. imports. The tariffs will be set at specific rates for individual countries, rather than the three-tier tiered system previously proposed. Trump and several officials have indicated they are not inclined to provide broad exemptions.
Translated with DeepL.com (free version)
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