U.S. President Donald Trump stated at a White House press conference on 3/24 that he would soon announce a tariff policy for imported cars, with industries such as pharmaceuticals, semiconductors, and lumber also being included in the taxation plan, and officially announcing a new wave of tariff policies on 4/2. He subsequently announced on his social media platform Truth Social that starting from 4/2, a 25% tariff would be imposed on other countries purchasing Venezuelan oil, indicating that he has incorporated geopolitical factors into economic and trade measures.
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ToggleTrump Announces Upcoming Car Tariffs, 4/2 Adjusted by Country
According to Bloomberg, Trump stated that the tariff policy for car imports would be announced before the reciprocal tariff policy on 4/2. He emphasized his previous promise to impose additional tariffs on foreign cars to protect the domestic automotive industry.
He further explained that on 4/2, he would officially announce a "reciprocal tariff system adjusted by country". In other words, if a country imposes tariffs on U.S. products, the U.S. would impose the same tax rate on that country's products to counter unfair trade.
However, he also mentioned that many countries would be exempted, as the U.S. has already collected too much tax from these countries, and he feels embarrassed to collect the same amount.
Pharmaceuticals, Lumber, and Semiconductors Named, Geopolitical Factors Included in Taxation
In addition to cars, Trump also named other industries:
Pharmaceuticals: To be taxed in the near future
Lumber and Semiconductors: To be implemented at some point in the future
Trump further announced on Truth Social that starting from 4/2, a 25% tariff would be imposed on countries purchasing Venezuelan oil, indicating that he has incorporated geopolitical factors into economic and trade measures beyond trade partners.
Policy Direction Still Chaotic, Concerns About Escalating Trade Friction
Although Trump claims that the upcoming decisions are to protect U.S. industries and retaliate reciprocally, the complete details are still unclear. This has created global trade uncertainty, intensified market investment volatility, and further strained relations between the U.S. and its major trading partners.
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