The Blubber

Trump Hints at Exemptions as Reciprocal Tariffs Loom

President Donald Trump suggested on Monday that his administration may grant exemptions to certain nations when it rolls out reciprocal tariffs on imports next week.

“I may give a lot of countries breaks,” Trump told reporters at the White House. “It’s reciprocal, but we might be even nicer than that. You know, we’ve been very nice to a lot of countries for a long time.”

For weeks, Trump has vowed to impose tariffs starting April 2 on any country that levies duties on American goods. However, as the deadline approaches, some administration officials have indicated that there could be room for flexibility.

“We may take less than what they’re charging, because they’ve charged us so much I don’t think they could take it,” Trump said Monday. “But it will be substantial.”

The president also hinted that additional tariffs on specific goods could be introduced as early as this week. He named automobiles, lumber, and semiconductors as potential targets.

Tariffs on Venezuela-Linked Goods

Earlier on Monday, Trump announced a 25% tariff on goods from any country purchasing oil or gas from Venezuela. He cited concerns over an influx of alleged members of the Venezuelan gang Tren de Aragua as a key factor in the decision.

Economic Concerns Over Tariff Strategy

Economists have cautioned that Trump's tariff-heavy approach could raise prices for American consumers. Last week, the Federal Reserve lowered its growth forecast for the U.S. economy, citing the potential impact of trade policies.