Trump's Tariff Tactics: A Global Trade Game-Changer?

U.S. President Donald Trump plans to introduce reciprocal tariffs on April 2, targeting countries with significant trade surpluses and high barriers. The announcement, intended as 'Liberation Day' for the U.S. economy, could exclude some sector-specific tariffs as the situation remains fluid.

In a significant move, U.S. President Donald Trump plans to announce new reciprocal tariffs on April 2, aimed at addressing the country's $1.2 trillion global goods trade deficit. Dubbed 'Liberation Day' for the U.S. economy, the move aims to match tariffs levied by other nations and counteract various non-tariff trade barriers.

The Trump administration finds itself in a state of flux, with senior officials cautioning that the specifics of the tariffs are still under discussion. Reports from the Wall Street Journal and Bloomberg indicate that certain sector-specific tariffs might be left out of the upcoming announcement, as Trump weighs in on auto tariffs and more.

The U.S. Trade Representative's office has sought public comments on these tariffs, particularly from major trade partners with substantial goods trade surpluses. Countries on the radar include China, Canada, the European Union, and Japan, encompassing 88% of total goods trade with the U.S.

(With inputs from agencies.)