The President of the United States, Donald Trump, has announced that the tariffs he plans to impose in the coming days will affect “all countries,” not just those with the largest trade imbalances with the United States.
Trump’s upcoming tariff announcement, expected on April 2, is part of his “Liberation Day” plan to introduce reciprocal levies in response to what his administration deems unfair trade practices.
He told reporters aboard Air Force One that the tariffs would apply to all nations, not a select few.
“Essentially all of the countries that we’re talking about. We’ve been talking about all countries, not a cutoff,” Trump said, dismissing any rumours about targeting only a limited number of nations.
The president’s tariff initiative had been expected to focus on countries with persistent trade imbalances with the US, dubbed the “Dirty 15,” but now it appears all trade partners will be impacted.
Despite this, Trump vowed that the tariffs would be more “generous” than the ones imposed on the US, emphasising that they would be kinder than previous foreign trade practices.
Trump’s trade team has already imposed tariffs on steel, aluminium, and Chinese imports, with additional levies on automobiles set to take effect on April 3.
The US President’s trade adviser, Peter Navarro, projected that the auto tariffs alone could raise $100 billion annually, with other tariffs bringing in about $600 billion a year.
These sweeping measures risk sparking a global trade war, with retaliations from other countries already anticipated.
Economists warn that this could increase inflation and threaten economic stability. However, Trump has defended his approach as a strategy to raise revenue and revive US industry.
