Trump will announce additional tariffs on autos, lumber and chips

Comments from Trump

• Says he will announce additional tariffs on lumber and chips “down the road”
• Threatened auto import tariffs “fairly soon, over the next few days”
• May give a lot of countries breaks on tariffs
• Tariffs for doing business with Venezuela will be on top of existing tariffs
• Not all tariffs will be included on April 2

This was after the announcement of a Hyundai investment in a steel plant and autos.

This is a pushback on the idea that tariffs won’t go beyond the reciprocal levels but the market is also liking the idea that he ‘may give a lot of countries breaks’.

“I may give a lot of countries breaks,” Trump said. “They’ve charged us
so much that I’m embarrassed to charge them what they’ve charged us, but
it’ll be substantial, and you’ll be hearing about that on April 2.”

This article was written by Adam Button at www.forexlive.com.