Select Language

US President Trump: Will impose reciprocal tariffs on April 2, announce on Russia-Ukraine talks

Breaking news

US President Trump: Will impose reciprocal tariffs on April 2, announce on Russia-Ukraine talks

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.03.17 13:53
US President Trump: Will impose reciprocal tariffs on April 2, announce on Russia-Ukraine talks

update 2025.03.17 13:53

US President Donald Trump said early Monday that he "will impose reciprocal and sectoral tariffs on April 2."

Additional quotes

No intention of making exemptions on steel, aluminum tariffs.

Reciprocal tariffs on countries will come alongside auto duties.

There may be something to announce on Russia-Ukraine talks on Tuesday.

 

Tariffs FAQs

Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas.

Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.

There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs.

During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.

 


Date

Created

 : 2025.03.17

Update

Last updated

 : 2025.03.17

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

USD/INR posts modest gains amid rising geopolitical tensions

The Indian Rupee (INR) softens on Tuesday. A rise in crude oil prices amid the escalating geopolitical tensions in the Middle East weighs on the local currency.
New
update2025.03.18 11:46

USD/CAD trades with positive bias around 1.4300; upside seems limited ahead of Canadian CPI

The USD/CAD pair edges higher during the Asian session on Tuesday and for now, seems to have snapped a two-day losing streak to over a one-week low, around the 1.4275 region touched the previous day.
New
update2025.03.18 11:36

Gold Price Forecast: XAU/USD rises above $3,000 to record highs amid safe-haven demand

Gold price (XAU/USD) surged to a record high of $3,005 per troy ounce during Asian trading hours on Tuesday, driven by strong safe-haven demand amid ongoing trade tariff uncertainty and geopolitical tensions.
New
update2025.03.18 11:21

Japanese Yen weakens to two-week low against USD; focus remains on BoJ-Fed meetings

The Japanese Yen (JPY) drifts lower against its American counterpart for the third straight day on Tuesday, lifting the USD/JPY pair to a nearly two-week high, above mid-149.00s during the Asian session.
New
update2025.03.18 11:17

Japan's Kato: Bond markets should decide on rate moves

Speaking at a news briefing on Tuesday, Japan's Finance Minister Katsunobu Kato said that "we will respond appropriately bearing in mind that the market should be allowed to decide market moves." He further noted that "bond markets should decide on rate moves" after the 40-year government debt yield briefly jumped to a record high.
New
update2025.03.18 11:07

Australian Dollar rises as US Dollar weakens amid growing economic concerns

The Australian Dollar (AUD) gains ground for the third successive session on Tuesday.
New
update2025.03.18 10:37

Israel strikes in response to Hamas not releasing hostages

A statement from Israeli Prime Minister Benjamin Netanyahu's office said on Tuesday that Israel resumes military operations against Hamas across the Gaza Strip, per Reuters.
New
update2025.03.18 10:33

WTI edges higher above $67.00 on heightened geopolitical risks

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $67.30 during the early Asian session on Tuesday.
New
update2025.03.18 10:18

PBOC sets USD/CNY reference rate at 7.1733 vs. 7.1688 previous

The People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1733 as compared to the previous day's fix of 7.1688 and 7.2364 Reuters estimate.
New
update2025.03.18 10:15

EUR/USD holds below 1.0950, hopes of German fiscal deal might help limit its losses

The EUR/USD pair trades with mild losses around 1.0915 during the early Asian session on Tuesday.
New
update2025.03.18 09:40

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel