PiCK
Trump Administration: "Reciprocal Tariff Rates by Country to be Announced on April 2"
Summary
- The Trump administration announced that it will release tariff rates for each trading partner on April 2.
- It was reported that opportunities to avoid tariff barriers will be provided if trading partners improve non-tariff barriers, currency manipulation, etc.
- Trump stated that reciprocal tariffs to offset unfair trade practices will take effect from April 2.
US Treasury Secretary Bessent: "Will Also Provide Opportunity for Negotiations to Avoid Tariff Barriers"
US Treasury Secretary Scott Bessent announced on the 18th (local time) that the Trump administration will present tariff rates calculated based on tariff rates by trading partners, non-tariff trade barriers, and other factors on April 2.
According to Reuters and other foreign media, Secretary Bessent said in an interview with Fox Business that country-specific tariff rates will be announced on April 2 as previously announced. He stated, "The rates could be low or quite high depending on the country, but we will also provide an opportunity for negotiations to avoid 'tariff barriers.'"
Trump has said that his administration will implement reciprocal tariffs on April 2 to offset trade practices it considers unfair.
Regarding trading partners, Bessent said, "We will present non-tariff barriers, currency manipulation, unfair financing, labor suppression, etc., and if the counterpart country improves these issues, we will not establish tariff barriers."
Kim Jung-a, Contributing Writer kja@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
