Trump wants to introduce new tariffs amid falling stock market. What the media is writing
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- Trump wants to introduce new tariffs amid falling stock market. What the media is writing
US President Donald Trump has declared April 2 "Liberation Day." Tariffs on imports from Canada and Mexico, as well as on cars, will take effect on this day. He will also announce the introduction of new duties that may affect a wide range of countries. Against the background of these actions, the US stock market is experiencing a serious decline. What the media write about Trump's tariff policy is in the Izvestia digest.
Bloomberg: Trump will introduce new tariffs on April 2
On April 2, President Trump will announce the introduction of retaliatory duties. White House spokeswoman Caroline Leavitt said the announcement would include tariffs by country. She said the president is also "committed to implementing" sectoral duties, but they won't be in the spotlight during the planned event.
Bloomberg
"The president will announce a tariff plan that will reverse the unfair trade practices that have plagued our country for decades," Leavitt told reporters at the White House. It's time for reciprocity, and it's time for the president to make historic changes to do what's right for the American people."
Leavitt declined to provide details when asked about the reciprocal tariff rate and which countries would be affected. She said that the expected duties do not imply any exceptions. Finance Minister Scott Bessent said the tariff announcement would be made at 15:00 local time (22:00 GMT).
Al Jazeera: Trump said he would be "accommodating" on tariffs
Trump told reporters that his long-awaited retaliatory duties would be lower than those levied by other countries. He noted that the tariffs he is preparing to announce on Wednesday will be "better" than the trade policies of U.S. trading partners. Repeating his thought that the US trading partners had deceived them, Trump said that these measures would return "enormous wealth to our country."
Al Jazeera
"We will be very kind compared to what they were like. The numbers will be lower than what they charge us, and in some cases, perhaps significantly lower," Trump told reporters in the Oval Office. "Relatively speaking, we will be very kind," Trump said.
Trump said that April 2 would be "Liberation Day" due to the introduction of new duties. In addition to those tariffs that have not yet been announced, 25 percent duties on imports from Canada and Mexico and a 25 percent tax on all car imports will take effect. Other duties, including 20 percent on all Chinese imports and 25 percent on aluminum and steel, have been in effect since March.
Financial Times: US stock market experienced its worst quarter since 2022
The US stock market has performed its worst in almost three years due to fears that Trump's tariffs will lead to stagflation in the world's largest economy. The S&P 500 index fell by 4.6% in the first three months of 2025, which was the worst performance since the third quarter of 2022. Bankers and investors are concerned that the taxes that Trump is imposing on trading partners will slow down economic growth and also lead to higher prices.
The author of the quote
"I don't think any of us expected such a prolonged headline buzz, a lack of clarity about how the administration would achieve its goals," said Jesse Mark, head of global equity capital markets at Jefferies, an American bank. "It's like self—flagellation."
Over the weekend, Goldman Sachs raised its inflation forecast for the end of the year, which is being closely monitored by policy makers, and warned that the probability of a recession in the United States next year is 35%, compared with 20% previously. Shares of large technology companies that have dominated the markets in recent years fell sharply in the first quarter, and the Nasdaq Composite index declined by 10.4%.
NBC: Some Republicans object to Trump's tariff policy
A number of Republican Congressmen have publicly expressed concern about the possibility of a protracted trade war and its impact on the economy. Several legislators are pushing for exceptions to mitigate the impact of the duties. Thus, the chairman of the Agriculture Committee of the House of Representatives, Glenn Thompson, asked the White House to exempt from tax certain goods that are important for the US agricultural industry.
NBC
Tom Cole, Republican of Oklahoma, Chairman of the House Appropriations Committee, pointed to the gap between farming and non-farming communities. He said farmers in his state "export a lot," so they have concerns about retaliatory tariffs. However, those outside the agricultural community "mostly support" tariffs, which, according to him, prompted him to take a "wait-and-see" position.
Senator John F. Kennedy, Republican of Louisiana, was hesitant about the effects of the tariffs, saying there could be some negative consequences. On April 1, a group of Democrats led by Senator Tim Kaine will try to hold a vote on a bill that would lift the state of emergency used by Trump to impose tariffs on Canada.
The New York Times: A crucial week awaits Trump
Trump's policies will be put to a serious test this week. Early elections will be held in Florida on April 1 for two seats in the House of Representatives and elections to the Wisconsin Supreme Court, which Democrats want to turn into a referendum on confidence in the White House.
The New York Times
The elections in Florida are crucial for Republicans, who have a slim majority in the House of Representatives, trying to carry out a presidential program. The result of the race in Wisconsin, a swing state where Trump narrowly won last year, may reflect voters' views on the president's reduction of the federal workforce, his crackdown on illegal immigration, and his moves to purge diversity, equality, and inclusivity initiatives.
The White House hopes that wins in these races will strengthen Trump's control over the Republican Party as his team seeks to overcome the backlash over sharing military plans with a journalist on the Signal app. The introduction of long-promised tariffs also risks angering both allies and consumers, as investors are increasingly concerned that tariffs will spur inflation and slow down consumer spending.
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