Trump Admin Live updates: Trump summons the meeting of his cabinet and Elon Musk
President Donald Trump is expected for reciprocal rates on April 2 to be more objective than he has previously threatened, but the situation remains fluid and the plan is still under discussion, sources familiar with the plan to ABC News said.
April tariffs would continue to be a significant increase in US tariffs and relations with American allies are expected to tense, but it will probably be narrower than Trump has said previously. In February, Trump ordered federal agencies to consider practically all US business partners to assess which reciprocal rate to impose them.
“April 2 is the day of release in America!” Trump wrote in Truth Social. “For decades they have scammed and abused us by all the nations of the world, both friend and enemy. Now it is time for the good of the United States to obtain part of that money and respect.
President Donald Trump observes during a cabinet meeting in the White House Cabinet room, on March 24, 2025, in Washington.
Brendan Smialowski/AFP through Getty Images
Trump officials have also indicated that there will be a more focused approach to recent interviews.
“One of the things we see from the markets is that these really large rates in each country,” said Kevin Hasett, director of the Trump National Economic Council, Fox News. “I think markets need to change their expectations, because not all who deceive us in commerce, are just a few countries and those countries will see some rates.”
-ABC News’ Selina Wang
