[By Guancha Observer Network, Ruan Jiaqi]
President Trump's so-called "Liberation Day" (April 2nd) is just around the corner. At that time, the United States will introduce a potentially earth-shattering "reciprocal tariff" plan that could disrupt the global trading system, and market panic continues to escalate. On Tuesday (April 1st), White House Press Secretary Caroline Levitt confirmed that Trump had finalized the comprehensive "reciprocal" tariff plan, and it was expected that the details would be announced at the White House Rose Garden at 4 p.m. Eastern Time on April 2nd and take effect immediately after the announcement.
According to reports from The New York Times and The Wall Street Journal on April 1st, during the media briefing on Tuesday, Levitt boasted that April 2nd would be "one of the most important days in modern American history." She told reporters that Trump had made his decision and was currently meeting with his economic advisors in the White House to refine the final details of the so-called "reciprocal" tariff plan.
Levitt claimed that Trump and his team would ensure this was a "perfect agreement" for the American people and American workers, but refused to provide more details. She teased, saying "you'll see tomorrow," and added, as a spokesperson for a Western老牌帝国ist country, she said something颇具魔幻现实色彩, "starting tomorrow, the days of America being exploited will be gone forever."
Screenshot from US media
Despite warnings from most economic analyses that ordinary American families will have to bear rising prices and falling incomes to pay for the extra costs generated by Trump's tariffs, Levitt insisted that "it is not the case." She defended Trump by saying that the president "takes these reasonable concerns very seriously" and is busy solving them every day.
For example, taking the Social Security benefits for taxpayers who are senior citizens, she continued to praise Trump's tariff plan, stating that the decision to be announced tomorrow is "to protect the descendants of the seniors you mentioned. It is for their children and grandchildren, ensuring that they have jobs in America and achieve the American Dream like their elders."
The New York Times also mentioned that when asked if the government was worried about errors in the tariff decision, Levitt confidently replied, "their decisions won't be wrong" and "this tariff plan will work."
According to the White House, no countries or enterprises have been granted exemptions or tariff优惠政策. Levitt claimed that many foreign governments had contacted the president and his team to discuss tariffs, but Trump "is focused on American interests."
"The president has an outstanding advisory team that has studied these issues for decades," she added. "We are committed to restoring America's golden era and making America a manufacturing superpower."
When asked if businesses can take any measures to avoid tariffs, Levitt said that Trump "is always ready to answer business calls" and reiterated that he is "very focused on correcting past mistakes."
She also stated, "The president wants to ensure that all Americans are doing well, especially ordinary people, which is the core of these tariffs. But as I have repeatedly emphasized, just like during his first term, Wall Street will do well too."
The Wall Street Journal believes that this is the White House's attempt to downplay Wall Street's concerns over Trump's "reciprocal tariffs." However, market panic has not subsided. According to a report by the Financial Times on April 1st, Wall Street does not seem to look forward to "Liberation Day," as fears of tariffs leading to stagflation caused the U.S. stock market to post its worst quarterly performance in nearly three years this week. Policy uncertainty has triggered massive selling, and consumer confidence has clearly declined.
The Financial Times expects that besides the so-called "reciprocal tariffs," the measures Trump is set to announce on April 2nd may also include other policies Washington does not recognize, such as tariffs on digital services and consumption policies. Countries such as Canada, Mexico, the EU, China, India, and others may become targets of U.S. government tariffs.
Associated Press pointed out that Trump's "reciprocal tariffs" may take the form of tariffs on specific products, or broader "average" tariffs on all goods from each country, or other forms. In summary, these tariffs should reflect the tariffs other countries impose on the U.S. and various forms of subsidies they provide to their own enterprises.
White House trade advisor claimed that these tariffs could generate $6 trillion annually for the government. The Associated Press estimates that this means an average tax rate of approximately 20%.
"Imposing comprehensive taxes on imported goods will make American protectionism reach unprecedented levels since World War II," the Financial Times commented.
Although the White House claimed that Trump had determined the tariff plan, insiders revealed that policy discussions were still ongoing.
According to a report by The Wall Street Journal, the person claimed that hours before Trump announced the tariff policy, the Office of the U.S. Trade Representative was preparing another new tariff plan. They considered imposing comprehensive tariffs on some countries, but the rate might not be as high as the 20% general tariff plan.
This more moderate plan emerged because the 20% general tariff plan proposed by the Trump administration faced opposition from industries and labor groups, and some Republican senators declared they would consider voting in support of a resolution initiated by Democrats. This resolution questions the president's emergency tariff authorization, and a vote on it is scheduled for Wednesday.
In less than 24 hours before the "boots drop," multiple countries responded one after another.
On April 1st local time, European Commission President Ursula von der Leyen vowed to "hit back hard" against U.S. tariff threats in her speech at the European Parliament. She swore that the EU would implement "strong retaliation" against the 25% auto tariff and "reciprocal tariffs" about to take effect in the United States, including targeting large American tech companies and other service exports. Meanwhile, the EU would negotiate from a position of strength, "we have cards in our hands."
Israel also issued a statement on the evening of April 1st, announcing the cancellation of all tariffs on imports from the United States.
Canada and Mexico held a phone call between their leaders. A statement from the Canadian Prime Minister's Office said that both leaders emphasized the importance of safeguarding North American competitiveness while respecting national sovereignty. Both agreed to "maintain close contact." The statement also mentioned that the two countries discussed measures to counteract the White House's "unreasonable trade actions," including increasing bilateral trade.
This article is an exclusive contribution from the Guancha Observer Network and cannot be reprinted without permission.
Original source: https://www.toutiao.com/article/7488536522455794191/
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