The sweeping duties of US President, Donald Trumpwill enter into force tomorrow (2.4.2025), said White House spokesman Caroline Levit.
“My perception is that the duties will be announced tomorrow. They will come into force immediately, and the president has informed about it for some time, “a White House spokesman told reporters today, according to a Bloomberg report. Trump plans to launch duties tomorrow to world trade partners during an event scheduled to take place in the White House Rhodes, in an attempt to reinstate manufacturing in the US and remodeling a global trading system that has long been denouncing.
Levit gave a few indications of the size and extent of the duties, but said Trump would be willing to hear foreign governments and leaders of businesses demanding lower rates. He said that many nations have already contacted the government about the president’s plans.
“Certainly, the president is always willing to accept a phone call, always willing to negotiate, but he is very focused on correcting past mistakes and showing that American workers have a fair treatment,” he said.
The spokesman also downgraded the volatility of the market before the announcement. Investors’ fears that duties could raise consumer prices have led to a weekly sale of US shares.
“As it was in his first term, Wall Street will be fine,” Levit said.
Concerning the view that White House advisers could incorrectly appreciate the impact of duties and eventually harm the US economy, Levit has rejected the possibility.
“They’re not going to be wrong,” he said. “It will work, and the president has a brilliant team of consultants who have been studying these issues for decades, and we focus on restoring America’s golden age and the emergence of America in a manufacturing superpower.”