Original article by
The Australian – Page: Online : 25-Mar-25

US President Donald Trump is scheduled to announce reciprocal tariffs on the nation’s trading partners on 2 April. Trump has previously stated that sector-specific tariffs will take effect at about the same time. They were expected to include the automotive and pharmaceutical sectors; however, Trump has told a cabinet meeting that automotive tariffs will be announced "very shortly", while pharmaceutical tariffs will be revealed "at some point". Shares in Tesla rallied by nearly 12 per cent in response to indications that the tariff on automobiles may not take effect in early April. A White House official has confirmed that sector-specific tariffs "may or may not happen" on 2 April, although reciprocal tariffs will be imposed from this date. Meanwhile, Trump has revealed that a "secondary tariff" of 25 per cent on countries that buy oil from Venezuela will also take effect on 2 April; he has accused the country of sending "tens of thousands" of criminals to the US.

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT