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President Trump has confirmed that while his administration will begin implementing a series of reciprocal tariffs starting April 2, there may be some potential exemptions.
Some shit you should know before you read: If you’re unaware, President Trump originally announced plans to implement reciprocal tariffs as a way to counter what he described as decades of unfair trade practices by America’s trading partners. He argues that many foreign countries impose significantly higher tariffs on US goods and that this imbalance has hurt American industries and widened the trade deficit. Under his plan, the US would match or approximate the tariff rates that other nations impose on American products, effectively creating a country-by-country system of import taxes aimed at leveling the playing field. Trump says this approach would pressure foreign governments to lower their trade barriers or risk losing access to the US market. Some economists have warned that such a policy could ignite a series of retaliatory actions by a wide range of countries, with some even raising concern that it could embolden a coalition to form, with tariffs being imposed on the US.
What’s going on now: While speaking to reporters, President Trump hinted at a more flexible position regarding his previously firm stance on reciprocal tariffs, suggesting that some countries might receive exemptions or reduced rates. “I may give a lot of countries breaks,” Trump said at the White House, adding, “It’s reciprocal, but we might be even nicer than that.”
He claimed that the US had “been very nice to a lot of countries for a long time,” and that some trading partners had imposed such high tariffs on American goods that he would be “embarrassed to charge them what they’ve charged us.”
In addition to the reciprocal tariffs, Trump signaled that new sector-specific tariffs are also under consideration, though their rollout may not align precisely with the April 2 date set for the broader tariff package. He also mentioned pharmaceuticals, lumber, and semiconductors as industries under review, stating, “We’ll be announcing some of these things in the very near future, not the long future, the very near future.”
A White House official speaking anonymously to CNBC said, “No final decision’s been made as far as sectoral being tacked onto reciprocal.”
This comes as the stock market appears to be responding positively to signs that the upcoming tariff measures may be less severe than initially feared. Major indexes gained ground on Monday following reports that the Trump administration was considering exemptions and delaying sector-specific tariffs.
