WASHINGTON: President Trump confirmed new tariffs on steel and aluminum starting April 2. There will be no exemptions for any country.
Additional tariffs will be placed on various sectors, including autos.
Trump called April 2 a “liberating day” for the U.S. economy.
He said tariffs will match foreign charges on American goods.
Economic Impact
Trump claims previous leaders weakened America’s economy.
He argues tariffs will help restore financial balance.
Since implementing tariffs, billions have entered the U.S., he said.
Critics warn tariffs could trigger a global trade war.
Higher costs for American consumers remain a major concern.
Global Reactions
Canada and Europe quickly retaliated against Trump’s aluminum and steel tariffs.
Other nations are also reviewing their responses.
Trump stated he will not reconsider exemptions despite economic tensions.
Trade partners have expressed concern over escalating restrictions.
Markets reacted negatively, fearing financial instability.
Market Concerns
Wall Street is uneasy about the tariff impact.
Stock indexes recently fell into correction territory.
Investors fear long-term economic damage from trade disputes.
Rising prices could hurt American businesses and consumers.
Trump insists his policies will benefit the country in the long run.
Consumer Prices
Trump acknowledged rising costs for daily necessities.
He claims his administration lowered prices from earlier highs.
He highlighted falling gas and energy costs.
Egg prices have decreased, according to Trump.
Experts warn prices could rise again in April.
Taiwan Investment
Taiwan Semiconductor Manufacturing Company (TSMC) pledged a $100 billion U.S. investment.
Trump praised the deal as a major economic win.
Some in Taiwan view it as a “protection fee.”
They suggest it secures continued U.S. support.
The investment raises geopolitical concerns.
Future Outlook
Trump remains firm on his tariff strategy.
He argues that trade protection benefits American industries.
Analysts warn tariffs could destabilize international markets.
The next few weeks will determine economic impacts.
Trump insists his policies will strengthen U.S. industries.
