Trump Says U.S. Could Re-Impose Some Reciprocal Tariffs

By Ryan Hanrahan

CNN’s David Goldman reported Wednesday that “President Donald Trump said Wednesday that he could re-impose ‘reciprocal’ tariffs on some countries in as soon as two or three weeks, a potentially significant re-escalation of the global trade war that has already raised fears of a U.S. and global recession.”

“‘In the end, I think what’s going to happen is, we’re going to have great deals, and by the way, if we don’t have a deal with a company or a country, we’re going to set the tariff,’ Trump said in an Oval Office ceremony,” according to Goldman’s reporting. “‘I’d say over the next couple of weeks, wouldn’t you say? I think so. Over the next two, three weeks. We’ll be setting the number.’”

“Trump on April 9 paused his massive so-called reciprocal tariffs, which aren’t technically reciprocal. The reprieve was supposed to be for 90 days to allow countries to negotiate with the administration,” Goldman reported. “Trump officials have said around 90–100 countries have offered to negotiate deals, setting a tremendously difficult task before trade negotiators to race against the clock to make new commitments.”

“Without those negotiated deals, Trump could impose his tariffs on countries that rise as high as 50% — except for China, which the Trump administration set at an astronomical 145%,” Goldman reported. “It’s not clear what new tariffs Trump will set on countries that are unable to strike a deal with the United States in the coming weeks — and whether those new tariffs will permanently supersede the paused reciprocal tariffs or merely serve as an interim tariff as negotiations continue. In the meantime, the United States maintains a 10% universal tariff on virtually every good imported to America, plus higher rates for certain goods.”

China Tariff Reprieve — Maybe?

Reuters’ Andrew Silver, Trixie Sher Li Yap, and Brenda Goh reported Friday that “China has exempted some U.S. imports from its 125% tariffs and is asking firms to identify critical goods they need levy-free, according to businesses notified, in the clearest sign yet of Beijing’s concerns about the trade war’s economic fallout.”

“The dispensation, which follows de-escalatory statements from Washington, signals that the world’s two largest economies were prepared to rein in their conflict, which had frozen much of the trade between them, raising fears of a global recession,” Silver, Li Yap, and Goh reported. “Beijing’s exemptions — which business groups hope would extend to dozens of industries — pushed the U.S. dollar up slightly and lifted equity markets in Hong Kong and Japan.”

Despite the exemptions, CNBC’s Evelyn Cheng reported that “China on Thursday said that there were no ongoing discussions with the U.S. on tariffs, despite indications from the White House this week that there would be some easing in tensions with Beijing.”

“‘At present, there are absolutely no negotiations on the economy and trade between China and the U.S.,’ Ministry of Commerce Spokesperson He Yadong told reporters in Mandarin, translated by CNBC,” Cheng reported. “He added that ‘all sayings’ regarding progress on bilateral talks should be dismissed. U.S. President Donald Trump and Treasury Secretary Scott Bessent this week indicated that there might be an easing in tensions with China. The White House earlier this month added 145% tariffs on Chinese goods, to which Beijing responded with duties of its own and increased restrictions on critical minerals exports to the U.S.”

Twelve States Sue Trump Over Tariffs

Inside of the U.S., Axios’ April Rubin reported that “a coalition of 12 states sued the Trump administration on Wednesday over what they called ‘illegal tariffs.’ The attorneys general are seeking a court order to block President Trump from being able to enact the tariffs, claiming that he lacked the authority to set them.”

“‘Congress has not granted the president the authority to impose these tariffs and therefore the administration violated the law by imposing them through executive orders, social media posts, and agency orders,’ New York Attorney General Letitia James’ office said in a statement,” Rubin reported. “Attorneys general of Arizona, Colorado, Connecticut, Delaware, Illinois, Maine, Minnesota, Nevada, New Mexico, New York, Oregon, and Vermont filed the lawsuit to make the tariffs block judicially enforceable.”

Trump Says U.S. Could Re-Impose Some Reciprocal Tariffs was originally published by Farmdoc.