The White House is rolling back its sweeping tariffs set to take effect on April 2, opting instead for a more targeted approach that focuses on reciprocal levies against a select group of the US top trading partners.
President Donald Trump, who has called April 2 “Liberation Day,” had repeatedly insisted that broad duties on automobiles, semiconductors, and pharmaceuticals would go into effect that day. However, according to one administration official, “those sector-specific tariffs… are now not likely to be announced on April 2,” though White House plans “remain fluid.”
In recent weeks, the president’s team has narrowed the list of targets to what Treasury Secretary Scott Bessent described as the “dirty 15,” encompassing the major economies responsible for the largest US trade imbalances.
Canada, Mexico, and the EU are among those expected to be hit with the higher reciprocal tariffs, and there may be few exceptions or exemptions. One foreign official, speaking under condition of anonymity, said the US believes it will have “the strongest hand” in any negotiations if everyone is “on a burning platform” once the tariffs take effect.
According to individuals who attended a recent White House meeting with oil industry representatives, Commerce Secretary Howard Lutnick and US Trade Representative Jameson Greer both signaled they “didn’t expect exemptions,” having felt they granted “too many in the first Trump administration.”
The White House officially disputes that tariffs were discussed in the meeting, but a separate attendee recalled asking about steel and aluminum exemptions without receiving a clear commitment.
The president’s public comments suggest little appetite for concessions. “Once you give exemptions for one company,” Trump has said, “you have to do that for all.” Even so, he allowed that “the word flexibility is an important word. Sometimes there’s flexibility, there’ll be flexibility.”
Information for this briefing was found via The Wall Street Journal and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
