|

US President Donald Trump reiterates new-old tariff threats

United States (US) President Donald Trump spoke with reporters in Washington, DC on Monday, re-announcing plans to issue additional tariffs on automobiles, aluminum, and pharmaceuticals "soon". This follows the Trump administration's recent unilateral 25% import tax on all steel and aluminum entering the US. President Trump also took the opportunity to make a new tariff threat, announcing that the US would be imposing an additional 25% tariff on all goods coming to the US from countries that buy Venezuelan Crude Oil products.

Never one to miss an opportunity to make a statement, Donald Trump also touched on a wide variety of old and new topics. The Trump team is once again "close" to signing a "rare earths" deal with Ukraine; Trump would like to see the Federal Reserve (Fed) lower interest rates, even as the US economy sputters and inflation concerns re-emerge; Trump expects to unveil a brand-new air traffic system after a series of deadly airplane crashes immediately followed the termination of thousands of FAA workers and air traffic controllers at the beginning of Trump's term.

According to both Trump and his Commerce Secretary Howard Lutnick, April 2 remains the hard launch date of wide "reciprocal" tariffs on any country that has a tariff on US goods, with the Trump administration ready to declare foreign VAT taxes as a form of tariff as well. President Trump also noted during his roving speech that companies have been returning their operations to within the US's borders and that they have all been investing heavily in the US economy. The specific details of which companies are moving their operations to the US and how much they are investing remain elusive.

Key highlights

Any country that buys oil or gas from Venezuela will pay a 25% tariff to the US, effective April 2nd.

The US is putting secondary tariff on the country of Venezuela.

Companies are all coming back to the US.

Investment numbers are beyond expectations.

The CHIPS act was a disaster.

Will be announcing tariffs on autos, aluminum, and pharmaceuticals in the very near future.

Tariffs will keep US taxes low.

Energy prices are coming down.

I hope the Fed lowers interest rates.

We will get brand new air traffic system.

We’re dealing with people in Greenland who want something to happen.

Greenland is calling us, we're not calling them. It's important for national security.

I was very concerned about the economy six months ago.

We inherented a very bad situation.

Agreement on rare earths to be signed shortly.

Agreement on rare earths just about completed. I will sign soon.

We're talking about territory now and talking about power plant ownership.

Author

Joshua Gibson

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

More from Joshua Gibson
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD moves sideways below 1.1800 on Christmas Eve

EUR/USD struggles to find direction and trades in a narrow channel below 1.1800 after posting gains for two consecutive days. Bond and stock markets in the US will open at the usual time and close early on Christmas Eve, allowing the trading action to remain subdued. 

GBP/USD keeps range around 1.3500 amid quiet markets

GBP/USD keeps its range trade intact at around 1.3500 on Wednesday. The Pound Sterling holds the upper hand over the US Dollar amid pre-Christmas light trading as traders move to the sidelines heading into the holiday season. 

Gold retreats from record highs, trades below $4,500

Gold retreats after setting a new record-high above $4,520 earlier in the day and trades in a tight range below $4,500 as trading volumes thin out ahead of the Christmas break. The US Dollar selling bias remains unabated on the back of dovish Fed expectations, which continues to act as a tailwind for the bullion amid persistent geopolitical risks.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.