Trump hints at possible tariff exemptions amidst global tension
Donald Trump stated that he might exempt several countries from the "reciprocal tariffs" announced for 2nd April. Simultaneously, he announced the introduction of new charges on foreign vehicles and semiconductors. Trump also mentioned the alleged decision of the EU regarding lowering tariffs on American cars.
During the announcement of the construction of Hyundai steel plants in Louisiana, the American leader referred to the planned tariffs, which he describes as "reciprocal" - they are theoretically meant to level the rates used 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 the announcement by the Korean corporation about building plants as proof of the effectiveness of his administration's tariff policy.
Trump described 2nd April as the "Liberation Day" for the United States, when the country will "finally going to be taking in money." He also announced that in the next few days he would introduce additional tariffs affecting cars, as well as partially affecting timber and integrated circuits.
Controversies surrounding European tariffs and international reactions
The US President expressed surprise and approval that, as a result of his actions, the European Union allegedly reduced its tariffs on American cars from 10% to 2.5%. This information, however, is not confirmed in reality. Although reports of such a proposal to reduce tariffs emerged in the media in February, no formal decision was 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, had previously informed that he proposed to the American side a mutual reduction or total elimination of tariffs on industrial products. Similar talks are planned by representatives of other countries in the coming week.
The "Wall Street Journal" and Bloomberg reported on Sunday that Trump's team intends to limit the scope of the announced "reciprocal tariffs," as well as delay the implementation of sectoral tariffs or abandon them altogether. According to the "WSJ," tariffs may be imposed on countries with which the United States has a persistent trade deficit, referred to by Treasury Secretary Scott Bessent as the "Naughty Fifteen." Among these countries are China, the European Union, Brazil, India, and Canada.
