Select Language

US Commerce Sec. Lutnick: Most countries to examine trade policies after Trump's reciprocal tariffs

blockHeadVisual
  1. HOME
  2. Get information
  3. World FX news
  4. US Commerce Sec. Lutnick: Most countries to examine trade policies after Trump's reciprocal tariffs

World FX news

search
Breaking news

US Commerce Sec. Lutnick: Most countries to examine trade policies after Trump's reciprocal tariffs

  • X
  • facebook
  • LINE
  • RSS
  • X
  • facebook
  • LINE
  • RSS
New update 2025.04.03 21:25
US Commerce Sec. Lutnick: Most countries to examine trade policies after Trump's reciprocal tariffs

update 2025.04.03 21:25

In an interview with CNBC on Thursday, US Commerce Secretary Howard Lutnick said that he expects most countries to start to really examine their trade policies after US President Donald Trump's reciprocal tariff announcements, per Reuters.

"We are talking with all major trading countries, US products are going to have to be sold there," Lutnick added and said that countries will need to change their rules to allow US agricultural products in.

Market reaction

The US Dollar (USD) remains under heavy selling pressure following these comments. At the time of press, the USD Index was down about 2% on the day at 101.65.

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

 : 2025.04.03

Update

Last updated

 : 2025.04.03

Related articles

Show more

Writer

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?
No loading Yes loading

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.

Previous article

prev

USD/CAD tumbles to near 1.4100 as US Dollar nosedives on US recession risks

Next article

WTI drops below $67 on demand concerns, OPEC+ output hike

prev

Most viewed

Crude Oil price today: WTI price bullish at European opening

West Texas Intermediate (WTI) Oil price advances on Monday, early in the European session. WTI trades at $63.19 per barrel, up from Friday's close at $62.97.
New
update2025.04.28 15:04

ECB's Villeroy: We still have a margin for rate cuts in Europe

European Central Bank (ECB) policymaker Francois Villeroy de Galhau said on Monday that the central bank still has "a margin for rate cuts in Europe."
New
update2025.04.28 14:54

EUR/GBP moves away from multi-week low, lacks bullish conviction and remains below mid-0.8500s

The EUR/GBP cross attracts some buyers during the Asian session on Monday, though it lacks bullish conviction and remains close to a nearly three-week low around the 0.8510 region touched on Friday. Spot prices currently trade just below mid-0.8500s, up less than 0.10% for the day.
New
update2025.04.28 14:49

GBP/USD Price Forecast: Finds support near 1.3300 after breaking below ascending channel

The GBP/USD pair steadies around 1.3320 during Asian trading hours on Monday, after posting losses in the previous session. Technical analysis on the daily chart suggests a weakening bullish trend, as the pair breaks below its ascending channel pattern.
New
update2025.04.28 14:41

EUR/USD Price Forecast: Keeps bullish vibe, first upside target emerges near 1.1400

The EUR/USD pair trades on a flat note around 1.1360 during the Asian session on Monday. The Greenback steadies as traders are confused by mixed signals on US-China trade relations.
New
update2025.04.28 13:59

EUR/JPY slips below 163.00 as trade-related uncertainties benefit the safe-haven JPY

The EUR/JPY cross kicks off the new week on a weaker note and moves away from over a three-week top, around the 163.75 area touched on Friday. The downward trajectory drags spot prices back below the 163.00 mark during the Asian session, though it lacks bearish conviction.
New
update2025.04.28 13:53

US Dollar Index remains above 97.00 due to easing US-China tensions

The US Dollar Index (DXY), which tracks the USD against six major currencies, continues to rise for the second consecutive day, trading near 99.60 during Asian hours on Monday. The US Dollar (USD) strengthens amid signs of easing tensions between the US and China.
New
update2025.04.28 13:37

India Gold price today: Gold falls, according to FXStreet data

Gold prices fell in India on Monday, according to data compiled by FXStreet.
New
update2025.04.28 13:35

Gold price languishes below $3,300; last week's swing low holds the key for bulls

Gold price (XAU/USD) attracts fresh sellers at the start of a new week and drops to the $3,268-3,267 area, back closer to Friday's swing low, during the Asian session.
New
update2025.04.28 13:34

FX option expiries for Apr 28 NY cut

FX option expiries for Apr 28 NY cut at 10:00 Eastern Time via DTCC can be found below.
New
update2025.04.28 13:04

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.

arw
  • 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
Line

Line
Facebook

Facebook
X

Twitter
Cancel