UJ
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President Donald Trump is rapidly approaching a self-imposed deadline of April 2 for wide-ranging tariffs, threatening to impose additional ones on foreign rivals this weekend while also indicating a willingness to negotiate.
Trump has dubbed April 2 as “Liberation Day,” vowing reciprocal tariffs against an unspecified number of countries, alongside 25% tariffs on vehicles and parts.
He has also cautioned about imposing further tariffs on U.S. adversaries Russia and Iran during a phone call with NBC News’ Kristen Welker over the weekend.
In the interview, Trump expressed his frustrations toward Russian President Vladimir Putin.
“I was really angry – really upset – when Putin started questioning Zelensky’s credibility, because that’s not where we should be going, you get what I mean?” Trump shared with Welker, referring to Putin’s comments suggesting a “temporary administration” for Ukraine as negotiations proceed.
He added, “But new leadership means you won’t see a deal for a long time, right? … I was very upset about it. However, if an agreement isn’t reached, and I believe Russia is to blame, I’ll impose secondary sanctions on Russia.”
Trump’s critical remarks about Putin sharply contrast with his softer words regarding Ukrainian President Volodymyr Zelensky and his calls for elections in the war-ravaged country. He told Welker that Putin knows he is upset.
Trump cautioned that a failure to secure an agreement could lead to secondary tariffs.
“If Russia and I cannot reach a deal to end the violence in Ukraine, and if I believe Russia is at fault—which it may not be, but if I do—I will impose secondary tariffs on all oil stemming from Russia,” he stated.
Trump did not elaborate on how he would implement these secondary tariffs.
Last week, the White House announced an agreement for Russia to refrain from using force in the Black Sea contingent on the lifting of sanctions on its banks and exports related to its invasion of Ukraine. This agreement fell short of the initial 30-day ceasefire proposed by the White House.
When asked if he would engage in talks with Putin this week if the Russian leader “acts correctly,” Trump responded, “Absolutely.”
In the same conversation, Trump mentioned he is “considering secondary tariffs on Iran… until a deal is finalized.”
During his initial term, Trump exited the 2015 nuclear agreement between Iran and global powers, a deal that imposed strict restrictions on Iran’s controversial nuclear program in exchange for sanctions relief. On Sunday, Iranian President Masoud Pezeshkian stated that Iran dismissed direct negotiations with the U.S. regarding its nuclear agenda.
Nevertheless, the U.S. has already imposed heavy sanctions on Iran and engages in minimal trade with the nation.
The president has acknowledged that his impending tariffs could disrupt the economy, and his senior economic advisors have attempted to mitigate the uncertainty and economic ramifications of the announcements made on Wednesday.
National Economic Council Director Kevin Hassett refrained from disclosing how many nations would be subject to reciprocal tariffs, suggesting on Sunday that the plans remain tentative.
“President Trump will determine how many countries are involved,” Hassett commented during an appearance on Fox News’ “Sunday Morning Futures” hosted by Maria Bartiromo.
Hassett implied that the president has not reached any conclusive decisions.
“President Trump has a long-term vision for America’s prosperity, and we are working very diligently to realize it. However, I cannot provide any forward-looking predictions regarding this week. The president has a lot of analysis ahead of him, and he will make the best decision,” Hassett stated.
Meanwhile, Trump has indicated a readiness to negotiate, telling Welker, “Only if other parties are willing to offer us something of substantial value. Nations possess valuable resources.
Otherwise, there is no room for bargaining.”
On Friday, Trump informed reporters aboard Air Force One that any agreements would probably come after the tariffs are declared.
The president has long viewed tariffs—along with the threat of tariffs—as pivotal negotiation tools. However, the recent discourse regarding tariffs has unsettled markets, generating anxiety and uncertainty among American businesses and consumers.
Peter Navarro, the president’s senior advisor for trade and manufacturing, dismissed concerns regarding price hikes for consumers.
“Tariffs translate to tax cuts, tariffs create jobs, tariffs enhance national security, and tariffs are beneficial for Americans. Tariffs will restore American greatness,” he exclaimed during an appearance on “Fox News Sunday” with Shannon Bream.
UJ has reported that the immediate effects of tariffs might not be felt by Americans right away, yet these import taxes could increase the prices of a wide variety of goods, especially since over 40% of the products imported by the U.S. last year originated from the countries targeted by Trump.
Bream pressed Navarro on concerns that tariffs might translate to higher everyday expenses. He highlighted revenue generated from auto tariffs that would fund tax cuts, promising “the largest tax reduction in American history for the middle class.”
“Overall, consumers and Americans will benefit, including the jobs they create,” he reiterated.
When pressed once again regarding surveys indicating a general belief that tariffs will raise product costs and Trump’s acknowledgment that tariffs may cause “some disruption,” Navarro responded, urging people to “trust in Trump.”
“Trust in Trump. We have the experience from the previous term. We imposed historically high tariffs on China, as well as tariffs on aluminum, steel, washing machines, and solar products. … All it has delivered is prosperity and price stability.
The reason we won’t experience inflation is that foreign parties will absorb most of the costs. They have to,” he concluded.
