KEY TAKEAWAYS
- The White House is reportedly reducing the scope of the tariffs it is putting in place on April 2 and may not be announcing targeted levies on industrial sectors such as cars, microchips and pharmaceuticals.
- The Wall Street Journal reported that reciprocal taxes on targeted nations would still take effect on April 2, however, those on sectors like automobiles, pharmaceuticals and semiconductors likely won’t be announced.
- Bloomberg first reported that President Donald Trump is planning more targeted tariffs than he has previously threatened in his April 2 announcement.
The White House is reportedly reducing the scope of the tariffs it is putting in place on April 2, and may not be announcing targeted levies on industrial sectors such as cars, microchips and pharmaceuticals.
In a report Sunday citing an administration official and people with knowledge of the planning, The Wall Street Journal said that reciprocal taxes on targeted nations would still take effect on April 2. However, those on sectors such as automobiles, pharmaceuticals and semiconductors likely won’t be announced, The Journal said.
“The administration is now focusing on applying tariffs to about 15% of nations with persistent trade imbalances with the U.S.” the report said.
Bloomberg first reported that President Donald Trump is planning more targeted tariffs than he has previously threatened in his April 2 announcement.
The White House didn’t immediately return a request for comment.
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