US President Donald Trump is ready to reveal an extensive tariff plan 2. April, a date he described as “Liberation Day”. The aim of the plan, which focused on the so -called mutual tariffs, is to re -balance global trade, increase American production and generate considerable revenue for domestic policy priorities. However, the wide range of these tariffs, which potentially cover all nations, raised concerns about the global trade wars.
Plan without details
Despite the immediate introduction of the White House, the exact rates of tariffs did not notice, as calculated or which countries could be entitled to exceptions. Trump also indicated that non -tariff barriers would be taken into account, but no methodology was provided.
“You would start with all countries, so let’s see what will happen,” Trump told reporters on board Air Force One. “I didn’t hear rumors of 15 countries, 10 or 15.”
Key sectors and business partners focused
The new tariffs will build on existing charges on aluminum, steel and cars. Trump also promised a 25% tariff on imported vehicles and proposed an increase in tariffs to pharmacies, lumber, semiconductor and copper. Mexico and Canada, the two largest business partners in the US, are expected to be hit by 25% of tariffs.
In addition, Trump warned against curbs on “all oil coming from Russia” if Moscow refuses to comply with US requirements related to Ukraine.
April 2. Trump promised a “day of liberation”
The reciprocal plan of US President Donald Trump, who was prepared for April 2, sent shock waves through a global economy. The aim of politics is marked as “Liberation Day” from Trump and aims to re -balance trade by saving tariffs on imports from all countries, unless they agree on exceptions after launch. This step, which includes hefty doses on cars, metals and various other sectors, was worried about the worldwide trade war.
Global reaction
The announcement raised concerns between allies and American merchants, with several governments trying to negotiate exceptions or alternative business arrangements.
UK is looking for an exception but braces for impact
The United Kingdom is one of the many nations that hope to ensure an agreement to avoid tariffs. Downing Street has recognized that the United Kingdom is “probably influenced” and is involved in the ongoing discussions with US sales representatives.
“As far as tariffs are concerned, the Prime Minister was clear that he would always act in the national interest,” said the British government spokesman Keir Starmer. “Our business teams continue to constructive discussions to agree on an agreement on the economic prosperity of the United Kingdom.”
However, the United Kingdom’s government signaled that interviews could exceed 2 April and raise concerns for the British industry, especially the manufacturer of luxury cars such as Rolls-Royce and Aston Martin, faced by 25% of the import duty.
Canadian energy industry on the edge
Canada faces an imminent 10% of the energy export to the US and creates infinity in the nuclear energy sector. The US relies on Canada for more than a quarter of his uranium offer, causing tariffs to be particularly disturbing.
“The tools are waiting for them to find out what it means before taking action,” said Karen Radosevichová, nuclear fuel supply manager in Entergy Corp. “This uncertainty paralyzes for this industry.”
Canadian officials warned that they could pay off with their own export obligations for uranium and potentially escalating trade tension between the two allies.
EU delay of retaliation measures
The European Union, also in the cross parts of the Trump plan, decided to postpone its first countermeasures until mid -April. This decision allows an additional time of negotiation and re -evaluation of targeted US goods.
Also read | Explanation: The possible impact of trumps of mutual tariffs on India
Russia and Venezuela face further pressure
Trump has expanded its tariff strategy beyond traditional business disputes and used economic pressure in geopolitical conflicts. On Sunday, the secondary tariff announced 25% to 50% on all Russian oil, if Moscow disagrees with the ceasefire in Ukraine.
In the case of Venezuela, Trump introduced a new economic tool – “secondary tariffs” – and threatening 25% of tariffs on any country that buys Venezuelan oil. The executive order, signed on Monday, gives Foreign Minister Marco Rubio the discretion of the imposition of these sanctions.
Venezuelan President Nicolás Maduro responded defiantly: “They can sanction and impose tariffs on what they want, what they can’t sanction is the love and patriotism of the Venezuelan people.”
China, the largest buyer of Venezuelan oil, condemned the American move. “We are calling on the US to stop interfering with Venezuela’s internal affairs and cancel illegal unilateral sanctions,” Jiakun, a spokesman for the Chinese Foreign Ministry, said.
Also read | Trump tariffs Shake US Markets: S&P 500, NASDAQ hit a 6 -month minimum as 2 April approaching
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