Trump touts tariffs amidst EU controversy and new levies
Donald Trump stated that he may exempt a number of countries from the "reciprocal tariffs" announced for April 2. At the same time, he announced the introduction of new charges on foreign vehicles and semiconductors. Trump also mentioned the alleged decision by the EU to lower tariffs on American cars.
During the announcement of Hyundai's construction of steel plants in Louisiana, the American leader referred to the planned tariffs, which he describes as "reciprocal"—theoretically intended to equalize the rates applied by other countries. When asked about the possibility of some countries avoiding these tariffs, Trump responded affirmatively, saying: — I may give a lot of countries breaks. It’s reciprocal, but we might be even nicer than that. You know, we’ve been very nice to a lot of countries for a long time. — The President considered that the Korean company's announcement of the plant's construction proves the effectiveness of his administration's tariff policy.
Trump described April 2 as a "day of liberation" for the United States, when the country will "finally going to be taking in money." He also mentioned that within the next few days, he will announce additional tariffs that will affect cars, as well as partially wood and integrated circuits.
Controversies surrounding European tariffs and international reactions
The U.S. President surprisingly and approvingly stated that as a result of his actions, the European Union allegedly reduced its tariffs on American cars from 10 to 2.5 percent. However, this information is not true. Although reports of such a proposal to reduce tariffs appeared in the media in February, no formal decision has been made in this regard, and the EU trade commissioner Maros Sefcovic denied ever making such an offer.
Sefcovic, who arrived in Washington on Monday to begin negotiations on the announced tariffs, previously informed that he suggested to the American side the mutual lowering or complete elimination of tariffs on industrial products. In the coming week, representatives of other countries plan to conduct similar talks.
The "Wall Street Journal" and Bloomberg reported on Sunday that Trump's team intends to limit the scope of the announced "reciprocal tariffs" and also delay or completely abandon the imposition of sector-specific tariffs. According to the "WSJ," tariffs may be imposed on countries with which the United States has a persistent trade deficit, described by Treasury Secretary Scott Bessent as the "dirty fifteen." Among these countries are China, the European Union, Brazil, India, and Canada.
