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Investing.com-- U.S. President Donald Trump will announce his new round of trade tariffs on April 2 at 15:00 ET (19:00 GMT), Treasury Secretary Scott Bessent said in a Fox News interview on Monday.
“I’m not going to get ahead of President Trump, he’s going to announce them at three o’clock, on Wednesday,” Bessent told Fox News’ Sean Hannity.
“We’re going to see fair trade… everyone will have an opportunity to lower their tariffs, non-tariff barriers… and make the global trading system fair for American workers again,” Bessent said.
Bessent’s comments echoed Trump’s view that the U.S. is treated unfairly in global trade, and that his tariffs are aimed at fixing this apparent imbalance. Trump plans to impose tariffs matching those imposed by major trading partners on American goods.
Recent reports stated that the President will target a bigger group of countries and will seek higher tariffs with fewer exemptions.
Trump’s recently announced 25% tariffs on foreign automobiles will also take effect from April 2, with the President threatening tariffs on several other sectors, including key commodities, semiconductors, and pharmaceuticals.
Bessent also touted Trump’s plans to cut taxes, which he said will benefit the middle class and reduce unemployment.