Mutual tariffs will apply to all countries - Trump

With his statement, the US president dismissed rumors that he might initially limit the scope of the tariffs.

"You’d start with all countries, so let’s see what happens. I haven’t heard a rumor about 15 countries, 10 or 15," Trump told reporters aboard Air Force One.

Trump intends to introduce so-called reciprocal tariffs on April 2. This will be a key element of his plan to restore balance in global trade, stimulate American manufacturing, and generate tariff revenue to fund his domestic policy priorities. These include extending tax breaks introduced during his first presidential term and implementing new tax cuts promised during the 2024 election campaign.

The White House has not yet specified which tariffs will be imposed, how they will be calculated, or what countries must do to obtain exemptions. Trump also stated that his tariffs will take into account non-tariff barriers imposed by other countries, but he has not yet explained how these calculations will be made. The administration has also not announced when exactly the new tariffs will take effect.

"We’re going to be much nicer than they were to us, but it’s substantial money for the country," the US president added.