{"id":5433,"date":"2025-03-25T07:24:27","date_gmt":"2025-03-25T07:24:27","guid":{"rendered":"https:\/\/firearmman.com\/?p=5433"},"modified":"2025-03-25T07:24:29","modified_gmt":"2025-03-25T07:24:29","slug":"trumps-tariffs-on-april-2-will-be-narrower-than-previously-threatened-sources-say","status":"publish","type":"post","link":"https:\/\/firearmman.com\/?p=5433","title":{"rendered":"Trump\u2019s tariffs on April 2 will be narrower than previously threatened, sources say"},"content":{"rendered":"
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President Donald Trump<\/a>\u2019s plan for reciprocal tariffs<\/a> on April 2 is expected to be more targeted and narrower than what the president has vowed in the past, but the plan is still under discussion, sources told ABC News.<\/p>\n

The fresh round of duties, however, would still mark a significant escalation for the U.S. and its trading partners. In February, Trump ordered federal agencies to look into virtually every U.S. trading partner in evaluating what reciprocal tariff rate to put on them.<\/p>\n

\u201cApril 2nd is Liberation Day in America!!!\u201d Trump wrote on Truth Social. \u201cFor DECADES we have been ripped off and abused by every nation in the World, both friend and foe. Now it is finally time for the Good Ol\u2019 USA to get some of that MONEY, and RESPECT, BACK. GOD BLESS AMERICA!!!\u201d<\/p>\n

Trump\u2019s officials have been signaling a more conciliatory\u00a0tone in recent interviews.<\/p>\n

\u201cOne of the things we see from markets is they\u2019re expecting … these really large tariffs on every single country,\u201d Kevin Hassett, Trump\u2019s National Economic Council director, said on Fox News. \u201cI think markets need to change their expectations, because it\u2019s not everybody that cheats us on trade, it\u2019s just a few countries and those countries are going to be seeing some tariffs.\u201d<\/p>\n

The administration is focused on trading partners who have major trade imbalances with the U.S., the sources said.<\/p>\n

\u201cIt\u2019s 15% of the countries, but it\u2019s a huge amount of our trading volume,\u201d U.S. Secretary of Treasury Scott Bessent said last week.<\/p>\n

Last year, according to federal census data, the U.S. had the biggest trade deficits with China, the EU, Mexico, Vietnam, Taiwan, Japan, South Korea, Canada, India, Thailand, Switzerland, Malaysia, Indonesia, Cambodia and South Africa.<\/p>\n

Bloomberg<\/a> previously reported on the altered plans for tariffs. The Trump administration will likely forego sector-specific tariffs on autos, pharmaceuticals and semiconductors that were also previously planned for April 2, The Wall Street Journal<\/a> reported.<\/p>\n

U.S. stocks surged on Monday on the news of narrower tariff plans. The Dow Jones Industrial Average climbed nearly 500 points, or 1.2%, while the S&P 500 jumped 1.5%. The tech-heavy Nasdaq increased more than 2%.<\/p>\n

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President Donald Trump looks on during a cabinet meeting in the Cabinet Room of the White House, Mar. 24, 2025, in Washington.<\/span><\/span><\/span><\/p>\n

Brendan Smialowski\/AFP via Getty Images<\/span><\/p>\n<\/div>\n<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n

In recent weeks, Trump’s tariffs have roiled<\/a> markets, stoked<\/a> recession concerns and heightened<\/a> worries about inflation. In short order, Trump has paused or reversed some tariffs, casting doubt over his plans and adding to the uncertainty, experts previously told ABC News.<\/p>\n

The Trump administration earlier this month slapped<\/a> 25% tariffs on goods from Mexico and Canada, though the White House soon imposed a one-month delay for some of those tariffs. A fresh round of duties on Chinese goods doubled an initial set of tariffs placed on China a month prior.<\/p>\n

Tariffs imposed on steel and aluminum on March 12 triggered retaliatory tariffs from Canada and the European Union, adding to countermeasures already initiated by China.<\/p>\n

Economists widely expect tariffs to increase inflation, since exporters typically pass along a share of the tax to consumers in the form of price hikes.<\/p>\n

Federal Reserve Chair Jerome Powell last week said<\/a> Trump\u2019s tariffs are partly to blame for price increases, leveling the criticism minutes after the central bank announced its decision to hold interest rates steady.<\/p>\n

Even as the Fed left its main policy lever unchanged, the central bank predicted weaker year-end economic growth and higher inflation than it had in a December forecast.<\/p>\n

ABC News’ Max Zahn contributed to this report.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

President Donald Trump\u2019s plan for reciprocal tariffs on April 2 is expected to be more targeted and narrower than what the president has vowed in the past, but the plan is still under discussion, sources told ABC News. The fresh round of duties, however, would still mark a significant escalation for the U.S. and its […]<\/p>\n","protected":false},"author":1,"featured_media":5434,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-5433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-news"],"_links":{"self":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts\/5433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5433"}],"version-history":[{"count":1,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts\/5433\/revisions"}],"predecessor-version":[{"id":5435,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts\/5433\/revisions\/5435"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/media\/5434"}],"wp:attachment":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}