Trump's Tariff Tango: A Strategic Play in Global Trade

U.S. President Donald Trump plans to impose tariffs on various sectors, including automobiles and pharmaceuticals, to address trade imbalances. Meanwhile, new secondary tariffs target countries buying oil or gas from Venezuela. Despite possible exemptions, Trump's approach has sparked discussions on international trade strategies.

U.S. President Donald Trump announced plans for sweeping tariffs targeting automobile, pharmaceutical, and semiconductor sectors, while hinting at possible exemptions for certain countries. This strategic move aims to address the $1.2 trillion global trade deficit by aligning U.S. levies with international standards.

In response to Venezuela, a new 25% secondary tariff was imposed on countries purchasing oil or gas from the nation, rapidly increasing oil prices. Trump's multidimensional approach to tariffs has stirred both Wall Street optimism and trade anxieties, with the upcoming April 2 deadline creating a backdrop of uncertainty.

Despite the broad scope, the administration is narrowing its focus to a select few countries known for high trade surpluses and barriers. Intense negotiations are expected, as nations like the UK and India seek to evade the new tariffs amidst an evolving geopolitical trade landscape.

(With inputs from agencies.)