U.S. President Donald Trump makes a statement in the Oval Office at the White House in Washington, D.C., on March 21, 2025.
Carlos Barria | Reuters
On Friday, President Donald Trump announced that there would be “flexibility” concerning his reciprocal tariff strategy, although he appeared to be against granting exceptions for the upcoming tariffs.
“Many people are approaching me about tariffs, asking if they might receive exceptions,” Trump told reporters during his Oval Office briefing.
“Once you grant an exception to one, you have to grant it to everyone,” he added.
As a strong proponent of tariffs, Trump maintained that he hadn’t changed his stance when he provided leading automakers with a one-month exemption earlier in March for a previous set of import duties.
“I remain consistent. However, the term flexibility is crucial,” he stated. “At times, it requires flexibility. Therefore, while there will be flexibility, the principle remains reciprocal.”
Trump has touted the start date of April 2 for his reciprocal tariffs as America’s “liberation day.”
According to Trump and his administration, this plan will practically establish tariff rates for all nations that impose tariffs on U.S. products. Nations employing alternative non-tariff trade measures that the Trump administration contests, like value-added taxes, may also face new tariffs.
On the same day, Trump revealed his intention to converse with Chinese President Xi Jinping. In response to Trump’s extensive tariffs on Chinese imports, Beijing has already enacted retaliatory tariffs on U.S. agricultural products.
Since reclaiming the presidency, Trump has issued numerous tariff-related announcements, stirring investor anxiety and raising concerns about a potential trade war.
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