President Trump on Wednesday disputed that the case is “flexibility” despite the approach rattles financial markets, not the case of impartiality and backtracking following his repeated threats of tariffs.
“There's no contradiction,” Trump told reporters in the oval office. “I have the right to adjust.”
The president spoke about his decision to exempt car parts from Mexico and Canada's tariffs a month later after three big US automakers (Ford, General Motors and Stellantis) reached out to raise concerns.
“And I'm not like the 'I won't delay' block. It's called flexibility, not contradiction,” Trump said in response to the question that tariffs are “on and off.”
“I've always been flexible, but once I start, there's very little flexibility. April 2nd will be a very big day for the United States,” he adds, referring to the date that the United States said it will impose mutual tariffs on all countries that have obligations on American goods.
Trump's tariff policy has taken office in his first few weeks, and unpredictability has contributed to concerns among traders this week and stock market recession.
In early February, the president threatened to impose additional tariffs on Mexico, Canada and China. Tariffs have come into effect against Chinese imports, but have been delayed by a month in Mexico and Canada.
The delayed tariff came into effect earlier this month, but within days, Trump announced an exemption from auto parts and goods that fall under the 2020 US Mexican-Canada Trade Agreement.
The president imposed a wide range of steel and aluminum tariffs this week. He threatened to double the tariff on Canadian imports, but pulled back after the Ontario government backed its own additional charges for electricity exports to three US provinces.
Trump has also vowed to impose tariffs on additional economic sectors, including automobiles, medicines, semiconductors, wood and other goods.
