On April 9, President Donald Trump made headlines by announcing a 90-day delay on his proposed sweeping tariffs. However, during a press conference held on Wednesday in the Oval Office, the President expressed uncertainty about maintaining this delay, suggesting that negotiations could lead to immediate tariff implementations. "If we don't have a deal with a company or country, we're going to set the tariff," he stated, emphasizing his administration's commitment to securing favorable trade agreements.
In his remarks, Trump highlighted that his administration has engaged in discussions with representatives from 90 countries regarding the tariffs. He indicated that significant progress could be made within the next few weeks, stating, "That will happen, 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." This statement raised questions about whether he would adhere to the previously announced 90-day negotiation period.
If President Trump decides to impose tariffs within three weeks of this announcement, it would mark a significant shift from his earlier stance, which allowed for a longer negotiation window. On April 2, a date he referred to as Liberation Day, Trump proposed a baseline tariff of 10% on goods imported from all countries. However, certain regions such as the European Union could face tariffs as high as 20%, and Vietnam could encounter even steeper rates of 46%.
On April 9, while announcing the 90-day delay, Trump explained that the pause was granted because over 75 countries had reached out to the U.S. to negotiate solutions without retaliatory measures. Notably, he did not extend the same negotiation opportunity to China, which currently faces a staggering 145% tariff on its goods entering the U.S. In retaliation, China has imposed a 125% tariff on American-made products, underscoring the ongoing trade tensions between the two nations.
From the outset of his presidency, Trump has strategically employed tariffs as a tool in trade negotiations. On April 3, he indicated a willingness to reduce tariffs for countries that provide the U.S. with advantageous agreements, describing potential concessions as "so phenomenal." This approach highlights Trump's ongoing reliance on tariffs to leverage better trade deals.
As the situation evolves, the implications of Trump's tariff decisions will continue to shape international trade dynamics and U.S. relations with various countries. Business Insider has reached out for comments from Trump's representatives but has yet to receive a response.
