Chicago March 25, 2025
The White House has confirmed that the US will implement new reciprocal tariff rates on April 2, despite earlier hints of a possible delay. The tariffs aim to equalize trade barriers and promote fair trade practices.
According to Treasury Secretary Scott Bessent, countries will receive a reciprocal tariff number reflecting their own rates, non-tariff trade barriers, currency practices, and other factors. This number will determine the tariff rate each country will face.
Bessent emphasized that countries can negotiate to avoid higher tariffs by reducing their own trade barriers. “We’ll say, ‘Here’s where we think the tariff levels are, and if you stop these unfair practices, we won’t put up the tariff wall,'” he explained.
The US plans to impose steeper tariffs on countries that fail to reduce their trade barriers, protecting the US economy, workers, and industries. Bessent remains optimistic that some tariffs may not take effect if countries negotiate deals before April 2.
