Trump eases tariffs while striking Venezuelan oil's buyers
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U.S. President Donald Trump stated yesterday during a press conference at the White House that the new tariff package coming on April 2nd could exclude the automotive, pharmaceutical, and chip manufacturing sectors. However, the reciprocal tariffs - aimed at targeting countries that Trump refers to as “the dirty 15”, the 15 countries with which the US has the worst trade imbalance - will remain in place.
Shortly after Trump's statements, NY’s stock market saw a considerable boost, after about four weeks of instability, rising inflation, and slowing growth estimates that had raised many concerns.
In recent days, Trump has stated that tariffs will soon extend to the automotive, pharmaceutical, and aluminum industries: his goal is to nationalize production and increasethe United States’s autonomy, especially in view of potential conflicts.
Meanwhile, on Monday, Trump announced that on April 2nd, additional tariffs will come into effect for all countries that purchase gas and/or oil from Venezuela: the involved countries will have to pay a 25% tariff on any trade with the United States.
Shortly after Trump's statements, NY’s stock market saw a considerable boost, after about four weeks of instability, rising inflation, and slowing growth estimates that had raised many concerns.
In recent days, Trump has stated that tariffs will soon extend to the automotive, pharmaceutical, and aluminum industries: his goal is to nationalize production and increasethe United States’s autonomy, especially in view of potential conflicts.
Meanwhile, on Monday, Trump announced that on April 2nd, additional tariffs will come into effect for all countries that purchase gas and/or oil from Venezuela: the involved countries will have to pay a 25% tariff on any trade with the United States.