Trump to Announce Major Tariff Plan Amid Tensions in Global Trade
The U.S. President reveals plans for reciprocal tariffs, with a potential 20% increase on imports.
On April 2, 2025, United States President Donald Trump is set to announce a significant tariff plan that will include reciprocal tariffs on goods imported from certain countries.
The announcement will be made by White House Press Secretary Karoline Livit, who stated that the new tariffs aim to eliminate unfair trade practices that have affected the U.S. economy for decades.
Trump has designated this day as "Liberation Day," signaling a historic shift in the U.S. trade policy.
Reports indicate that his administration is considering a plan to impose a 20% tariff on the majority of imported goods to the United States.
This plan has raised concerns among domestic manufacturers, particularly in the steel and aluminum sectors, as well as potential indirect effects on countries like Serbia.
In a previous statement, Trump indicated that the reciprocal tariffs would target all nations that have enacted tariffs on American goods.
The White House elaborated that any country perceived to have treated the U.S. unfairly could face consequences under this new tariff regime.
Additionally, it has been reported that Trump will implement a 25% tariff on imported automobiles effective April 3, 2025. A detailed outline of the proposed tariffs will be presented at an event in the White House on the same day.
Trump's advisers are reportedly considering a broad approach that would raise tariffs on products from nearly all countries by approximately 20%, in contrast to a more targeted methodology.
The administration anticipates that the new tariffs could generate over six trillion dollars in revenue, which could be returned to American consumers in the form of rebates.
Economists have warned that this initiative may result in adverse effects on both the domestic and global economies.
According to research from Yale University, the additional 20% tariff could cost the average American family at least $3,400.
Cyrus de la Rubia, an economist at Hamburg Commercial Bank, cautioned that negative repercussions are expected in the coming months as a result of these trade changes.
The announcement will be made by White House Press Secretary Karoline Livit, who stated that the new tariffs aim to eliminate unfair trade practices that have affected the U.S. economy for decades.
Trump has designated this day as "Liberation Day," signaling a historic shift in the U.S. trade policy.
Reports indicate that his administration is considering a plan to impose a 20% tariff on the majority of imported goods to the United States.
This plan has raised concerns among domestic manufacturers, particularly in the steel and aluminum sectors, as well as potential indirect effects on countries like Serbia.
In a previous statement, Trump indicated that the reciprocal tariffs would target all nations that have enacted tariffs on American goods.
The White House elaborated that any country perceived to have treated the U.S. unfairly could face consequences under this new tariff regime.
Additionally, it has been reported that Trump will implement a 25% tariff on imported automobiles effective April 3, 2025. A detailed outline of the proposed tariffs will be presented at an event in the White House on the same day.
Trump's advisers are reportedly considering a broad approach that would raise tariffs on products from nearly all countries by approximately 20%, in contrast to a more targeted methodology.
The administration anticipates that the new tariffs could generate over six trillion dollars in revenue, which could be returned to American consumers in the form of rebates.
Economists have warned that this initiative may result in adverse effects on both the domestic and global economies.
According to research from Yale University, the additional 20% tariff could cost the average American family at least $3,400.
Cyrus de la Rubia, an economist at Hamburg Commercial Bank, cautioned that negative repercussions are expected in the coming months as a result of these trade changes.
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