Trump Hints at Lower Reciprocal Tariffs Amid Global Trade Uncertainty
US President Donald Trump has indicated that the reciprocal tariffs he plans to announce will be “nicer” and “lower” than the tariffs imposed by other countries on the United States, as per Al Jazeera.
The remarks, made at the White House on Monday, come ahead of a highly anticipated announcement scheduled for Wednesday, and as uncertainty surrounding the impending trade measures continues to impact global markets.
“We are going to be very nice by comparison to what they were. The numbers will be lower than what they have been charging us, and in some cases, maybe substantially lower,” Trump told reporters.
He added that the measures would bring “tremendous wealth back to our country,” framing it as a “rebirth of our country.”
These comments followed a previous statement where Trump clarified that the tariffs would apply to “all countries,” dampening speculation that the measures would be targeted at nations with the largest trade deficits with the US.
Experts have expressed skepticism regarding the seemingly shifting signals from the Trump administration. Deborah Elms, head of trade policy at the Hinrich Foundation in Singapore, stated that she is taking the latest statement “with a grain of salt,” and expects tariffs to be applied broadly, with potentially higher levels for countries with larger trade deficits and other perceived grievances.
This announcement is the latest in a series of trade actions taken by the Trump administration. Several other tariffs, including those on imports from Canada and Mexico, and on auto imports, are slated to go into effect this week. Additional tariffs on Chinese imports, as well as on aluminum and steel, have already been implemented in recent weeks. The President has dubbed the April 2 tariff announcement as “liberation day”.
