United

Donald Trump

April

President Donald Trump

Treasury Secretary Scott Bessent confirmed Tuesday that the Trump administration will impose reciprocal tariffs on trading partners that maintain high trade barriers against the United States. 
The plan, which will be formally announced on April 2, targets a group of countries identified as the “dirty 15”, which Scott said make up 15% of U.S. trade volume but maintain significant tariffs and non-tariff barriers against American exports. 
“What’s going to happen on April 2: Each country will receive a number that we believe represents their tariffs” in place against the U.S., Scott said Tuesday during an interview with Maria Bartiromo on Fox Business. “For some countries, it could be quite low. For some countries, it could be quite high.” 
<h3 id="trump-administration-to-calculate-and-impose-tariffs-based-on-foreign-restrictions">Trump administration to calculate and impose tariffs based on foreign restrictions</h3> 
President Donald Trump has called this move “the big one”, describing it as a complete rebalancing of U.S. trade policy. Unlike previous tariff actions, this initiative won’t just focus on matching foreign tariffs on American goods. It will also include factors such as domestic value-added taxes, local content production requirements, and regulatory testing mandates that make it more expensive for U.S. companies to sell their products in foreign markets. 
“There’s what we would call kind of the ‘dirty 15,’ and they have substantial tariffs,” Scott <a href="https://www.foxbusiness.com/video/6370184628112" rel="nofollow noopener" target="_blank">said</a>. “They make up a huge amount of our trading volume.” He did not name the 15 nations but emphasized that they would be assigned tariff rates reflecting the barriers they impose on U.S. goods. 
Despite the planned tariffs, Scott suggested that some duties might not go into effect immediately. “Some of the tariffs may not have to go on because a deal is pre-negotiated,” he said. “Some countries, after receiving their reciprocal tariff number, will come to us and want to negotiate it down.” 
<h3 id="no-exemptions-no-exceptions-u-s-trading-partners-face-full-retaliation">No exemptions, no exceptions: U.S. trading partners face full retaliation</h3> 
The Trump administration has made it clear that no carve-outs will be allowed for any country. “I wouldn’t expect any carve-outs,” Scott told Bloomberg News on Tuesday. “Reciprocal means reciprocal. If you’re doing it to us, we’re going to do it to you. So stop doing it to us.” 
The impact of these tariffs has raised concerns among economists, who warn that trade uncertainty could trigger a slowdown in economic growth, though Scott dismissed speculation about a potential recession, saying there was no reason for the U.S. to experience an economic downturn. 
“I can’t guarantee anything,” he said. “But what I can guarantee you is there is no reason we need to have a recession. We’re seeing some very good underlying data.” He pointed to credit card transactions and bank performance as indicators that consumer spending remains strong. 
He acknowledged that the U.S. economy may experience a brief pause as it transitions away from relying on government spending. “We’re going to get this spending under control, we’re going to bring manufacturing back home, and we’re going to make the country more affordable for working Americans,” Scott said. 
<h3 id="trump-s-trade-team-prepares-for-major-tariff-rollout-on-april-2">Trump’s trade team prepares for major tariff rollout on April 2</h3> 
<a href="https://www.cryptopolitan.com/trump-trade-rep-jamieson-greer-america-china/">Jamieson Greer</a>, the U.S. Trade Representative (USTR), is overseeing the April 2 rollout of the new reciprocal tariffs. Greer, who was confirmed to his role in February, is working to structure the tariff announcement after a chaotic few months in which Peter Navarro and Commerce Secretary Howard Lutnick handled most of the trade messaging. 
The April 2 tariffs will apply to automobiles, semiconductors, pharmaceuticals, and other key industries. Trump confirmed that both reciprocal and sectoral tariffs will be included in the announcement. 
“It will be a liberating day for our country,” Trump told reporters on Sunday night. 
Unlike previous tariff actions, which were imposed without industry consultation, the USTR has reinstated a public comment process. This allows businesses and trade groups to submit feedback before the tariffs take effect. Greer is reviewing these requests before finalizing the tariff rates. 
The Trump administration is also preparing for legal challenges. Trade lawyers have warned that Trump’s use of the International Emergency Economic Powers Act (IEEPA)—which was used to justify tariffs on China and North America—could face court challenges if applied to reciprocal tariffs. The law requires a national emergency, and some experts argue that trade imbalances don’t qualify. 
Despite these risks, Trump remains committed to the April 2 deadline. The IEEPA gives the White House a fast-track mechanism to implement tariffs without congressional approval. Scott and other Trump officials met on Friday to discuss the legal and economic implications. 
The tariff formula is still being finalized, but officials say it will assign a single rate for each country based on its average tariff level and non-tariff restrictions. However, Trump retains the power to adjust rates based on whether a country cooperates or resists negotiations. 
<h3 id="uncertainty-remains-as-businesses-and-foreign-governments-await-details">Uncertainty remains as businesses and foreign governments await details</h3> 
While the Trump administration is determined to move forward, some aspects of the tariff rollout remain unclear. Some USTR and Commerce Department officials have suggested that certain tariffs may not take effect immediately, with some cases requiring further investigations before being imposed. 
The White House sees April 2 as a critical reset for U.S. trade policy. Some officials hope it will allow the administration to refocus on bigger challenges, such as trade relations with China. 
Trump, however, has shown no signs of backing down, even as business groups and foreign governments voice concerns. He has frequently announced new tariffs through social media and press conferences, sometimes reversing previous plans based on public and political reaction. 
Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. <a href="https://www.cryptopolitan.com/free-defi-web-class-coming-soon/?utm_source=cryptopolitan&amp;utm_medium=banner&amp;utm_campaign=defi-waitlist" target="_blank">Register Now</a>

Treasury Secretary Scott Bessent says Trump’s reciprocal tariffs will focus on ‘dirty 15’

Table of Contents

Cryptopolitan_News

Other articles published on Mar 19, 2025

Volatility Shares launching Solana futures ETFs March 20

RWA boom is inevitable, but BSC sell-offs expose crypto risks: pro

Best Cryptos to Join for Long Term: Qubetics Hits 23,400+ Holders as Cardano and Filecoin Price P...

Bitnomial Exchange to Withdraw Lawsuit Against SEC as XRP Futures Launch Nears

Crypto ETF 2.0: How Meme Coins Are Driving the Institutionalization Trend of ETFs Following BTC

Whales Take Notice of This New Crypto Priced at $0.02 as It Targets a 1,500% Surge

Join our free newsletter for daily crypto updates!