Trump Administration Prepares Country-Specific Tariffs to Address Trade Disparities

Treasury Secretary Scott Bessent expresses optimism about pre-negotiated deals as April 2 tariff implementation approaches.

The Trump administration will release country-specific tariff rates on April 2, tailored to each nation's trade practices, including tariffs, non-tariff barriers, and currency manipulation.
Countries can avoid these tariffs by reducing trade barriers or negotiating adjustments after receiving their proposed rates.
Treasury Secretary Scott Bessent stated that some countries have already approached the U.S. with offers to lower unfair trade practices.
The tariffs aim to protect U.S. industries and workers while generating revenue to offset the government deficit, though economists warn of potential market and consumer price impacts.
Bessent emphasized that critical industries, such as steel and aluminum, are a focus of the strategy to bring manufacturing back to the United States.