Trump to announce 'Liberation Day' with new tariff plan

White House press secretary Karoline Leavitt confirmed that Trump will announce the tariff plan at a cabinet-level Rose Garden press conference on April 2. She stressed that the Trump administration wants to impose tariffs that match those imposed by other countries on US goods.

Ms. Leavitt noted that some countries impose sky-high tariffs on American products, such as the 250% tariff that Canada imposes on American dairy products, which she said is an injustice that needs to be corrected.

“This has made it virtually impossible for American products to enter these markets and has bankrupted many Americans and cost them their jobs for decades,” Leavitt said. “So it’s time for a response, and it’s time for a president to make historic change and do what’s right for the American people, and that’s going to happen on Wednesday.”

US President Donald Trump. Photo: White House

Still, the administration has been divided on how to proceed. Proposals have included reciprocal tariffs for all countries, a 25 percent tariff on Mexico and Canada, or tariffs targeting specific industries such as lumber, copper, pharmaceuticals, and microchips. Trump also announced new auto tariffs that would take effect on April 3.

Meanwhile, US media reported that the Trump administration may delay or impose tariffs on only a few countries. Mr. Trump even said that the tariffs he is about to announce will be "much more generous" than those imposed by other countries on the US.

On Air Force One on March 30, Mr. Trump affirmed that reciprocal tariffs would apply to all countries as a first step, after which the US would negotiate tariff reductions if necessary. He is still discussing the plan with his team of advisers, including Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, Trade Representative Jamieson Greer, trade adviser Peter Navarro, senior aide Stephen Miller and Vice President JD Vance.

Trade adviser Peter Navarro has said the tariffs could raise $600 billion a year in revenue for the US, but analysts warn that figure is unrealistic. Economists worry that the tariffs will raise prices, hurt consumer spending and could push the US into recession. Goldman Sachs and JPMorgan both predict a growing risk of a recession.

Hoai Phuong (according to CNN, Bloomberg)

Source: https://www.congluan.vn/ong-trump-is-about-to-announce-the-liberation-of-new-quan-tax-plans-post340957.html