Trump – who has been making unprecedented use of presidential powers since taking office in January – said he could announce as early as Tuesday night exactly what “reciprocal tariffs” will be imposed.
The Republican billionaire insists that reciprocal action is needed because the world’s biggest economy has been “ripped off by every country in the world,” promising “Liberation Day” for the United States.
He could also unveil more sector-specific levies.
Asked for details, he told reporters Monday: “You’re going to see in two days, which is maybe tomorrow night or probably Wednesday.”
But he added: “We’re going to be very nice, relatively speaking, we’re going to be very kind.”
Critics warn that the strategy risks a global trade war, provoking a chain reaction of retaliation by major trading partners.
Already, China, South Korea and Japan agreed on Sunday to strengthen free trade between themselves, ahead of Trump’s expected tariff announcement.
But Trump said on Monday that he was not worried his action would push allies toward Beijing, adding that a deal on TikTok could also be tied to China tariffs.
Earlier, President Trump downplayed risks that TikTok was in danger of being banned in the United States, saying he was confident of finding a buyer for the app’s US business by a Friday deadline.
The hugely popular video-sharing app, which has over 170 million American users, is under threat from a law that passed overwhelmingly last year and orders TikTok to split from its Chinese owner ByteDance or face a ban in the United States.
The law took effect on January 19, one day before Trump’s inauguration.
But the Republican president quickly announced a delay that has allowed it to continue to operate; that delay is set to expire on April 5.
“We have a lot of potential buyers. There’s tremendous interest in TikTok,” Trump told reporters onboard Air Force One late Sunday.
“We have a lot of people that want to buy TikTok. We’re dealing with China also on it, because they may have something to do with it,” he said, adding “I’d like to see TikTok remain alive.” (AFP)
