President Trump was busy ratcheting up his scorched-earth tariffs strategy on Thursday. He suggested that his economic team will study reciprocal tariffs on countries with existing tariffs on American imports, which could come as early as April 2.
The tit-for-tat approach to trade is likely to create ongoing uncertainty in the markets despite Thursday’s gains. Trump said he would consider reciprocal tariffs country-by-country, targeting countries with VAT (value-added taxes) because they are “far more punitive than a tariff.” That means Canada, the UK, etc.
