Trump nicknamed on April 2 “Liberation Day” for prices. Here’s what to expect

New York (AP) – like the commercial wars launched by the American president Donald Trump Continue to degenerate, all eyes are Wednesday.

Trump called on several occasions on April 2 “Liberation day”, “ with promises to deploy a set of prices, or Import taxes Other countries, which says that it will release the United States from dependence on foreign goods. To do this, Trump said he would impose “Reciprocal” prices To correspond to the tasks that other countries charge on American products.

But many remain unknown on how these samples will really be implemented. The White House press secretary Karoline Leavitt said on Monday that Trump would unveil his plans to place the reciprocal rates on almost all American trade partners on Wednesday, but argued that the details were to the president to announce.

Since he took office barely for months, Trump turned out to be aggressive with pricing threats, while creating a feeling of cervical boost through Commercial actions on and off-together. And it is possible that we will see more delays or confusion this week.

Trump argued that prices protect US unfair foreign competition industries, collect funds for the federal government and ensure a leverage to demand concessions from other countries. But economists point out that general prices at the rates suggested by Trump could turn against him.

The prices generally exceed the consumer thanks to higher prices – and companies around the world also have a lot to lose if their costs increase and their sales fall. Import taxes already in force, associated with uncertainty concerning future commercial actions and possible reprisals, have already Swirling financial markets And Lowering of consumer confidence During the envelope a lot with questions This could delay hiring and investment.

Here’s what you need to know.

What will happen on April 2?

Trump’s plans details remain uncertain. Reciprocal prices could take the form of product tasks per product, for example, or wider “averages” imposed in all the goods of each country – or perhaps something else. The rates could reflect what other countries are charging as well as their value -added taxes and subsidies to national companies.

The White House Commercial Advisor Peter Navarro told “Fox News Sunday” that prices could raise $ 600 billion a year, which would imply an average rate of 20%.

Trump spoke of taxing the European Union, South Korea, Brazil and India, among other countries, thanks to these samples. Leavitt said on Monday that Trump had received several proposals by his advisers. She added that the president would make a final decision, but at the moment did not consider any exemption across the country of prices.

The previously delayed import taxes could take effect very soon. Trump’s delay for many goods from Canada and Mexico, for example, should flow in early April. Earlier this month, Trump wrote on his social media platform Truth Social That the extension granted to Mexican imports covered by the USMCA takes place until April 2. But additional confirmation around a specific date has not been issued since.

Which Trump’s prices are about to start?

Trump said he would place a 25% rate on all imports Any country that buys oil or gas from Venezuelawhich includes the United States itself, from Wednesday-in addition to imposing new prices on the South American country.

Her 25% prices on automotive imports I will start to be collected Thursday, with completely imported cars that will start at midnight. The prices should extend to automobile parts applicable in the following weeks, until May 3.

The White House says it expects to increase $ 100 billion in revenue per year of these new functions, but economists point out that this commercial action Increase the global supply chain of the automotive industry and lead to Higher price for consumers.

What rates have already entered into force?

Trump imposed a 10% price All Chinese imports From February 4, a direct debit later 20% doubled From March 4. And China retaliated with reprisal prices covering a range of American products, including a 15% rate on coal and liquefied natural gas products and 10% price on crude oil from the United States that took effect February 10. China also imposed prices of up to 15% on key American farm exports beginning March 10.

Trump’s widened steel and aluminum rates have also come into force earlier this month. The two metals are now 25% taxed Overall – with Trump’s order to withdraw steel exemptions and raise aluminum aluminum withdrawal Its 2018 import taxes previously imposed take effect March 12.

Canada and Mexico, the two largest trade partners in America, also faced high prices. Earlier this month, Trump implemented a partial and long delay of the month of sound 25% Prices Of the two countries – delaying taxes for imports related to the automobile as well as goods in accordance with the American agreement of Mexico -Canada 2020 until the beginning of April.

But other imports are still deducted, as well as 10% lower duties on energy and Canadian energy products. In response to these prices, as well as new steel and aluminum import taxes, Canada has deployed a series of counter Measures going up to billions of dollars on American goods. Mexico, on the other hand, has not yet formally imposed new samples – noting that it can still hope to defuse the trade war, although the country Reprisals previously promised to Trump’s actions.

Can we expect additional rates on the road?

Even more Trump prices are likely, the president also threatening import taxes on products like copper,, lumberjackpharmaceutical drugs and computer chips.

And many countries have promised reprisal measures – if not already imposed, such as Canada. Trump said that he would negotiate the prices on Wednesday than after their taxation, although he said that his taxes of 25% on car imports would be permanent.

In response to Trump’s steel and aluminum prices, the European Union Measures announced On American products worth 26 billion euros ($ 28 billion) – to target steel and aluminum products, but also American beef, poultry, bourbon, motorcycles, peanut butter and jeans. The block of 27 members intended to deploy this commercial action of reprisals in two phases on Tuesday and April 13, but later said that she to delay Until mid-April, without giving a specific date.

We will potentially see more reprisals this week, especially if Trump confirms more details on reciprocal scanning prices on Wednesday.

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The editors of the Associated Press Josh Boak and Zeke Miller in Washington contributed to this report.