White House Adjusts Scope of April 2 Tariffs

President Trump has designated April 2 as "Liberation Day" for the United States, a date set to introduce tariffs aimed at aligning U.S. duties with those imposed by its trading partners

In recent developments, the Trump administration has refined its approach to the tariffs scheduled for implementation on April 2. Initially, the plan encompassed broad, industry-specific tariffs targeting sectors such as automobiles, pharmaceuticals, and semiconductors. However, current indications suggest a strategic pivot towards imposing reciprocal tariffs specifically on nations that constitute a significant portion of U.S. foreign trade (the dirty 15 as Treasury Sec. Bessent says).

President Trump has designated April 2 as "Liberation Day" for the United States, a date set to introduce tariffs aimed at aligning U.S. duties with those imposed by its trading partners. While the original plan included sector-specific tariffs, an administration official has indicated that these may not be announced on April 2. Nonetheless, the administration remains committed to unveiling the reciprocal tariff measures on that day, though plans are still subject to change.

This rhetoric reflects the administration's attempt to balance assertiveness in trade policy with a readiness to engage in constructive negotiations, aiming to achieve fairer trade practices without further escalation of tensions unnecessarily.

Futures are positive ahead of the Monday NYSE open, showing a relief bounce from the lows put in of last week.

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