USA — President Donald Trump is preparing to announce a new round of tariffs on April 2 as part of his administration’s broader trade strategy. The plan, referred to by the White House as a set of “reciprocal tariffs,” aims to impose import duties on foreign goods at rates comparable to those placed on U.S. exports by other countries.
White House Press Secretary Karoline Leavitt confirmed Monday that the tariffs will apply to most of America’s trading partners. Specific details of the policy are expected to be released by the president during Wednesday’s announcement. Leavitt noted that multiple implementation proposals have been presented to the president, who is expected to make the final decision without granting broad exemptions.
Scope of Proposed Tariffs
The new tariffs are expected to take multiple forms, potentially including product-specific duties or average rates calculated based on existing foreign tariffs, subsidies, and value-added tax systems. White House trade adviser Peter Navarro stated in a recent interview that the reciprocal tariffs could generate up to $600 billion annually, suggesting an average rate of approximately 20%.
President Trump has identified the European Union, South Korea, Brazil, and India as examples of countries that may be impacted by the upcoming measures. While the exact structure remains uncertain, previously delayed tariffs on certain goods from Mexico and Canada are also set to expire in early April.
Tariffs Scheduled to Begin This Week
Starting Wednesday, a 25% tariff will be imposed on all imports from countries that purchase oil or gas from Venezuela, including the United States. A separate 25% tariff on foreign-built automobiles will take effect on Thursday, with similar duties on imported auto parts set to follow by May 3. The administration estimates these new measures could raise $100 billion in annual revenue.
Tariffs Already in Effect
Earlier this year, a 10% tariff was placed on Chinese imports beginning February 4, and that rate increased to 20% on March 4. In response, China implemented retaliatory tariffs ranging from 10% to 15% on various American products, including energy and agricultural goods.
Expanded tariffs on steel and aluminum also went into effect in March, raising rates to 25% across the board and ending previous exemptions. Canada and Mexico received partial delays for auto-related goods and items covered by the U.S.-Mexico-Canada Agreement (USMCA), but other imports remain subject to the tariffs, including potash and energy products from Canada.
In response, Canada has introduced countermeasures affecting billions of dollars’ worth of U.S. exports. Mexico has not yet issued formal retaliatory tariffs but previously indicated it would respond if needed.
Future Tariffs and Global Reactions
Additional tariffs are under consideration. The administration has identified copper, lumber, pharmaceuticals, and semiconductors as possible targets. President Trump has stated that no trade negotiations will take place regarding the April 2 tariffs until after they are enacted. He also confirmed that the 25% auto import tariffs are intended to remain in place permanently.
International responses are ongoing. The European Union has announced plans to impose tariffs on a range of U.S. goods valued at approximately €26 billion ($28 billion). The EU’s proposed countermeasures, initially expected in two phases on April 2 and April 13, have been postponed until mid-April, pending further developments.
Markets, policymakers, and international stakeholders continue to monitor the situation closely as April 2 approaches. Additional retaliatory announcements from global trading partners are possible depending on the specifics of the administration’s tariff rollout.
