Trump: Will impose broad reciprocal tariffs on April 2 and additional tariffs on specific industries
Trump stated, "They tax us, and we tax them; then in addition to tariffs on cars, steel, and aluminum, we will impose tariffs on other industries." After the announcement, U.S. stock futures continued to decline, with S&P 500 futures and Nasdaq futures down about 0.5%. Spot gold slightly decreased, erasing previous gains, currently reported at $2,984
On the 17th, Trump announced that he would impose extensive reciprocal tariffs on April 2 and additional tariffs on specific industries.
According to the media, Trump stated to reporters on Air Force One, "In certain cases," both types of tariffs will be imposed on foreign goods imported into the United States.
"They tax us, we tax them; then in addition to tariffs on cars, steel, and aluminum, we will also impose tariffs on other industries."
After the announcement, U.S. stock futures continued to decline, with S&P 500 futures and Nasdaq futures down about 0.5%.
Spot gold slightly decreased, erasing previous gains, currently reported at $2,984.
Analysts believe that this statement indicates that despite previous measures disrupting financial markets and escalating tensions among allies, Trump still plans to implement the tariff system.
According to CCTV News, on March 4 local time, U.S. President Trump reiterated during a joint session of Congress that reciprocal tariffs will begin on April 2. Tariffs on agricultural products will also take effect on April 2.
In addition to reciprocal tariffs, Trump also expressed his desire to focus on protecting key U.S. industries, including automobiles, steel, aluminum, microprocessors, and pharmaceuticals. It is currently unclear whether these industry tariffs will be included in the reciprocal tariff system or imposed additionally.
Trump stated:
"April 2 is our nation's liberation day. We are reclaiming some very foolish wealth that previous presidents gave away because they had no idea what they were doing."