White House is narrowing its approach to April 2 tariffs set – likely omitting a set

Wall Street Journal (gated) report, in (very brief) summary:

• The White House is adjusting its tariff strategy ahead of the planned April 2 rollout.
• Instead of implementing broad, industry-specific tariffs (such as on cars, pharmaceuticals, and semiconductors), the focus will likely shift to targeted reciprocal tariffs aimed at countries with significant trade ties to the U.S.
• Trump has labelled April 2 as “Liberation Day,” when these reciprocal tariffs—intended to match the tariffs other countries impose on U.S. goods—are expected to be announced. However, according to a White House official, the sector-specific tariffs are unlikely to be revealed that day, although plans are still evolving.
• Tariffs previously proposed on Canada and Mexico (linked to fentanyl concerns) and those on certain sectors remain uncertain, and the White House hasn’t clarified if or when they’ll proceed.

This article was written by Eamonn Sheridan at www.forexlive.com.