Trump hints at tariffs on car imports: Points to April
President Donald Trump of the United States has stated that tariffs on car imports could be imposed on April 2. Trump also instructed for a comprehensive study to be conducted on customs duties. The work is planned to be completed by April 1.
President Trump made remarks in the Oval Office after signing an executive order. Regarding the timing of car tariffs, Trump pointed to April 2. Trump mentioned a plan for April 1 but expressed superstitions, saying, “I said let’s do it on April 2. It costs a lot for just one day, but we will do it on April 2.”
“SAVING THE STEEL INDUSTRY BY IMPOSING TARIFFS” Trump claimed that he saved the steel industry by imposing tariffs in his first term, stating that this resulted in receiving billions of dollars in customs duties from China. Trump argued that if they had not done this, the US would not have any steel factories left, emphasizing the country’s need for steel in military and other areas. Trump also mentioned saving US Steel, saying, “I think it will become very profitable now. Tariffs will save many industries.” Trump emphasized that they did not want to allow US Steel to be sold to a foreign company, reiterating that Nippon Steel, which wanted to acquire the company, would be an investor.
“VAT WILL BE EVALUATED AS A TARIFF”
President Donald Trump of the United States signed a presidential order on the application of reciprocal tariffs based on the principle of reciprocity between countries.
Following the signing of the order instructing to develop a comprehensive plan against unfair arrangements in the US’s trade relations, Trump made a statement.
Trump stated that they would address countries using the VAT system, arguing that this system is much more “punitive” than tariffs. President Trump said, “VAT will be evaluated as a tariff.”
“EACH COUNTRY WILL BE SCRUTINIZED INDIVIDUALLY”
US Trade Secretary nominee Lutnick also explained that they would individually scrutinize each country regarding reciprocal tariffs. Lutnick noted that they planned to complete their work by April 1.
