Global Preparations for Country-Based Tariffs on 'Liberation Day'
President Trump recently announced that his upcoming reciprocal tariff package will apply to all U.S. trading partners. According to White House Press Secretary Karoline Leavitt, the tariffs framed as “country-based” will be formally unveiled during a Rose Garden event on April 2, with members of the president’s Cabinet in attendance. Leavitt cited high tariff rates from the European Union, Japan, India, and Canada as justification for the administration’s actions, signaling that those economies are likely among the primary targets.
In response, the European Union is preparing a “term sheet” of proposed concessions aimed at reopening trade talks, though EU officials were told at meetings this week in Washington that there was no way to avoid new auto and reciprocal tariffs, according to people familiar with the talks. The announcement also raised the possibility of retaliatory trade measures, with countries like the UK weighing their responses carefully.
The White House has yet to provide specifics on tariff rates or exemptions. The administration has indicated that future sector-specific tariffs may follow, with levies on copper, pharmaceuticals, semiconductors, and lumber under consideration.
NMMA is monitoring these fast-moving developments and will continue to advocate for a nuanced and targeted approach to tariff policies that support American manufacturing and keep our industry globally competitive.
We will continue to provide updates as new details emerge. For questions or to share how tariffs are affecting your business, contact NMMA Senior Director of Public Policy Clay Crabtree at [email protected].