Donald Trump in the Oval Office of the White House, 4 February 2025: Press service
US President Donald Trump has officially confirmed his intention to introduce new import duties, which, in his words, will “free America from dependence on foreign goods”. The White House on Tuesday evening confirmed that the new tariffs will come into force on 2 April, but has not yet disclosed details on their size and scope. This was reported by Reuter.
According to White House spokeswoman Carolyn Levitt, tariffs for countries that impose duties on US goods will take effect immediately after Trump’s announcement, while a 25% duty on car imports will take effect on 3 April.
“The president has a brilliant team of advisors who have been studying these issues for years, and our goal is to restore America to its economic greatness,” Levitt said.
While the Trump administration is convinced of the need for such measures, economists warn of the risks they could pose to the global economy. Experts at the Federal Reserve Bank of Atlanta said that uncertainty over tariffs could slow economic activity and lead to higher prices.
How will this affect the global economy?
The tariffs are expected to affect a number of countries, including the EU, South Korea, Brazil, and India. In particular, the European Union is preparing a “strong plan” to counter the new US trade policy. European Commission President Ursula von der Leyen stressed that Europe does not seek confrontation, but is ready to act decisively.
“We do not want an escalation of the trade war, but we have a clear plan of action if it becomes necessary,” she said.
The EU is already considering mirror duties on US goods, including cars, meat products, bourbon, steel and aluminium.
