Trump’s upcoming tariff plan will be country-based

President Donald Trump will reveal country-based tariffs on Wednesday in the White House Rose Garden, according to an official statement from press secretary Karoline Leavitt. The announcement, scheduled for April 2 at 3 p.m. Washington time. 

Trump and his administration will roll back trade practices that are “unfair” to American businesses and workers. Members of the president’s Cabinet will join him at the event, which marks a key step in his push to implement reciprocal tariffs across multiple trading partners.

Leavitt told reporters that Trump is “committed to implementing” sectoral tariffs as well, though those are not the main focus of Wednesday’s plan. She said, “It’s time for reciprocity, and it’s time for a president to take historic change to do what’s right for the American people.” 

Leavitt declined to give specifics on the exact rates or which nations could be affected, but she indicated that no exemptions are in place yet for items used by American agriculture. 

Trump himself hinted that the reciprocal tariffs might apply to “all countries,” suggesting an expansive approach. He has been open about his intention to mirror the duties other governments impose on U.S. exports, saying on Monday, “they’re reciprocal. So whatever they charge us, we charge them, but we’re being nicer than they were. They took advantage of us, and we are going to be very nice by comparison.” 

He noted that the numbers would be “lower than what they’ve been charging us, and in some cases may be substantially lower.” He has described these upcoming tariffs as vital to restoring fairness in global trade.

Leavitt said that current trade practices have put Americans out of business

During a Monday press briefing, Leavitt pointed to tariff rates from the European Union, Japan, India, and Canada as examples of barriers that have, in her words, “put a lot of Americans out of business and out of work.”

Trump has called April 2 the official start for wide-ranging duties meant to shift global trade in America’s favor, nurture manufacturing, and raise government revenue to support national programs, including what he describes as a “major tax cut.” 

This move follows earlier tariffs on Canada, Mexico, and China—America’s three largest trading partners—as well as on automobiles, steel, and aluminum. He has also floated additional levies on pharmaceutical, semiconductor, and lumber imports.

Uncertainty surrounding the administration’s plans has caused anxiety in financial markets, with some worried that a large-scale tariff policy could disrupt supply chains and raise consumer prices. 

A spell of volatility on Wall Street has been tied to such concerns, leading to a sell-off that continued through Monday.

In response, Leavitt told reporters, “Wall Street will work out just fine in this administration, just like they did in the first term.” Leavitt also mentioned that the president could extend these tariffs to other goods in the months ahead.

The tariffs could potentially push rates to levels not seen since the 1800s, based on earlier remarks by Trump officials. There is speculation that Trump may adjust the final numbers, since he has sometimes changed course at the last minute.