Trump states he might 'give a lot of countries breaks' regarding tariffs
On Monday, U.S. President Donald Trump mentioned the possibility of "giving a lot of countries breaks" on tariffs as the April 2 deadline for implementing "reciprocal tariffs" on U.S. trading partners approaches.
TroibNews 
U.S. President Donald Trump stated on Monday that he might "give a lot of countries breaks" on tariffs as the April 2 deadline for imposing "reciprocal tariffs" on U.S. trading partners approaches.
"I may give a lot of countries breaks, but it's reciprocal," Trump remarked to reporters at the White House on Monday afternoon.
He mentioned that the European Union has agreed to reduce car tariffs to 2.5 percent as part of an arrangement with the Trump administration.
"We'll be announcing some additional tariffs over the next few days, having to do with automobiles, cars, and having also to do a little bit with lumber down the road, lumber and chips," he added.
"But for the most part, April 2 will be a big day, that will be reciprocal day, and we'll be bringing some of the money back that's been taken from us," Trump emphasized.
Earlier in the day, Trump declared on social media that he will impose a 25 percent tariff on any nation that buys oil and/or gas from Venezuela, alleging that the Latin American country is sending "tens of thousands of" criminals to the United States.
When a reporter inquired whether the 25 percent tariff is "on top of existing tariffs," Trump responded, "yes."
With significant U.S. economic indicators showing worrying trends, economists and investors are cautioning that the likelihood of a "Trumpcession" has increased due to unpredictable trade and economic policies.
Earlier this month, Bruce Kasman, chief global economist at JPMorgan, voiced growing concerns about the U.S. economy. He informed reporters in Singapore that the investment bank now estimates a 40 percent chance of a U.S. recession this year.
Camille Lefevre contributed to this article for TROIB News
"I may give a lot of countries breaks, but it's reciprocal," Trump remarked to reporters at the White House on Monday afternoon.
He mentioned that the European Union has agreed to reduce car tariffs to 2.5 percent as part of an arrangement with the Trump administration.
"We'll be announcing some additional tariffs over the next few days, having to do with automobiles, cars, and having also to do a little bit with lumber down the road, lumber and chips," he added.
"But for the most part, April 2 will be a big day, that will be reciprocal day, and we'll be bringing some of the money back that's been taken from us," Trump emphasized.
Earlier in the day, Trump declared on social media that he will impose a 25 percent tariff on any nation that buys oil and/or gas from Venezuela, alleging that the Latin American country is sending "tens of thousands of" criminals to the United States.
When a reporter inquired whether the 25 percent tariff is "on top of existing tariffs," Trump responded, "yes."
With significant U.S. economic indicators showing worrying trends, economists and investors are cautioning that the likelihood of a "Trumpcession" has increased due to unpredictable trade and economic policies.
Earlier this month, Bruce Kasman, chief global economist at JPMorgan, voiced growing concerns about the U.S. economy. He informed reporters in Singapore that the investment bank now estimates a 40 percent chance of a U.S. recession this year.
Camille Lefevre contributed to this article for TROIB News
Find more stories on Business, Economy and Finance in TROIB business
