Investing.com -- The Trump administration is contemplating implementing more limited tariffs, including softer automotive duties and lower reciprocal tariffs, diverging from the President’s previous assertions of imposing equal tariffs, according to a report from the Wall Street Journal.
President Trump had previously indicated his intention to implement reciprocal tariffs on April 2 that would match U.S. tariffs with those of other countries. However, recent statements suggest that some nations may not face duties equivalent to their own tariffs. An administration official revealed that the White House is considering a plan that would provide some leniency to certain nations.
In an interview with Newsmax on Tuesday, President Trump stated, "I’ll probably be more lenient than reciprocal, because if I was reciprocal, that would be very tough for people."
The White House is also considering the imposition of tariffs on finished vehicles imported into the U.S., excluding automotive parts, according to Senator Bernie Moreno (R., Ohio) and others familiar with the discussions.
The administration’s economic team is preparing its reciprocal tariff action by calculating tariff rates for trading partners based on factors such as taxes and regulations. However, the full value of the tariff rate might not be applied to each country, the official mentioned.
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