Trump Announces 'More Targeted' Tariffs... Targeting Han, Jung, Il

"Countries Such as China, Japan, and the EU Cited as Unfair Trade Partners"

U.S. President Donald Trump’s tariff measures to be announced on the 2nd of next month are expected to be in a 'more targeted' form rather than comprehensive.

Bloomberg News reported on the 22nd (local time), citing aides and close associates of President Trump. Several officials familiar with the matter said that while this announcement will significantly expand U.S. tariffs, it will be more focused compared to the previously hinted all-encompassing, global measures.

President Trump will announce broad reciprocal tariffs, but some countries will be excluded, and at this point, there are no plans to impose separate tariffs on specific industries.

An official said, "Countries that do not impose tariffs on the U.S. and those with which the U.S. has a trade surplus will be excluded from this tariff list." However, another official stated that the tariff rates announced by President Trump to achieve immediate effects will take effect immediately.

An aide repeatedly mentioned internal 'negotiations' last week regarding the implementation of the tariff program, noting that President Trump, who often sends hawkish signals, is showing interest in raising tariffs as a source of revenue. Recently, President Trump said, "April 2nd will be a day of liberation," adding, "(The U.S.) has been exploited by all countries worldwide, friends and foes alike, and this measure will bring in tens of billions of dollars in revenue."

Another aide mentioned that the tariff measures could generate trillions of dollars in revenue over ten years.

Several officials acknowledged that the recent list of tariff countries may not be universal and that existing tariffs already imposed on industries such as steel may not necessarily be cumulative, which Bloomberg reported could significantly reduce the tariff burden on those industries. It remains unclear which countries will be included in this more selective approach, but one official said that when discussing this issue, the European Union (EU), Mexico, Japan, South Korea, Canada, India, and China were identified as unfair trade countries.

Earlier, Treasury Secretary Scott Baesert noted in a Fox News interview that reciprocal tariff rates would vary by country. At the time, he said, "There are large groups of countries with which we have little trade, but we have a slight surplus, and then there are countries we call the 'Dirty 15,' which impose significant tariffs on the U.S."

Kevin Hassett, Chairman of the White House National Economic Council (NEC), pointed out in an interview with Fox Business that "the market needs to change its expectation that very high tariffs will be imposed on all countries." He added, "Not all countries cheat us in trade; only a few do, so tariffs will be imposed only on those countries."

Additionally, President Trump stated that automobile tariffs would be announced at the same time as reciprocal tariffs, but officials said that sector-specific tariffs on automobiles, semiconductors, pharmaceuticals, lumber, and others are not expected to be announced together on April 2nd at this time.