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U.S. May Reportedly Scale Back Scope of Reciprocal Tariffs Effective on Apr 2
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The U.S. White House is narrowing the scope of reciprocal tariffs set to take effect on April 2, potentially excluding some industry-specific tariffs, while still planning to impose reciprocal tariffs on select countries among the U.S.'s major trading partners, the Wall Street Journal reported. Certain industry-specific tariffs are unlikely to be announced on April 2, the report cited U.S. government officials as saying. The White House is still preparing to unveil reciprocal tariff measures on that date, though the focus of these tariffs now appears more targeted than initially anticipated. Last week, U.S. Treasury Secretary Scott Bessent noted that the government is concentrating on approximately 15% of countries with persistent trade surpluses with the U.S. Such nations could face alarmingly high tariffs, potentially including Australia, Brazil, Canada, China, the EU, India, Japan, South Korea, Mexico, Russia, and Vietnam. President Donald Trump may wield presidential emergency economic powers to begin imposing the new tariffs immediately on April 2, though a final decision has yet to be made. AAStocks Financial News |
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