President Donald Trump’s coming wave of tariffs is poised to be more targeted than the barrage he has occasionally threatened, aides and allies say, a potential relief for markets gripped by anxiety about an all-out tariff war.
President Trump plans to announce targeted "reciprocal" tariffs on April 2nd, which he calls "Liberation Day," in response to tariffs and barriers from other countries. This wave of tariffs is expected to be more focused than initially proposed, excluding some countries and potentially avoiding sectoral-specific tariffs. The tariffs are intended to take effect immediately, targeting countries without tariffs on the U.S. and with whom the U.S. has a trade surplus. Although plans are not final, the goal is to have an immediate impact and generate revenue, despite market concerns about an all-out tariff war.