Report: White House likely to leave out cars, chips tariffs on April 2

Takeaways from the Key Takeaways

• The White House may be reducing the scope and impact of the tariffs that it will implement on April 2, and may not announce levies targeted at specific industries such as automobiles, microchips, and pharmaceuticals.
• The Wall Street Journal reported the reciprocal taxes on selected nations would still go into effect on April 2. However, those on sectors including automobiles pharmaceuticals and semiconductors will likely not be announced. 
• Bloomberg reported first that President Donald Trump was planning to impose more targeted tariffs in comparison to what he had threatened in his announcement on April 2.

The White House may be reducing the scope and impact of the tariffs that it will implement on April 2. It is also not expected to announce specific levies against industries such as automobiles, microchips, and pharmaceuticals.

The Wall Street Journal reported Sunday, citing an official of the administration and people familiar with the plans, that reciprocal taxes against targeted nations will still be implemented on April 2. The Journal reported that the tax rates on automobiles, pharmaceuticals, and semiconductors are unlikely to be announced.

The report stated that “the administration is now focusing its efforts on applying tariffs to around 15% of nations that have persistent trade deficits with the U.S.”

Bloomberg reported the first that President Donald Trump plans to implement more targeted tariffs compared to those he threatened in his April 2, 2017 announcement.

The White House did NOT immediately reply to a request for a comment.