Trump Administration Enforces Sweeping Tariffs, Refuses Negotiations

Commerce Secretary confirms no tariff reversals without major concessions from trade partners as global markets react sharply.

President Trump has implemented a 10% baseline tariff on all imports and a 25% tariff on foreign-made vehicles, effective April 3, 2025.
Commerce Secretary Howard Lutnick stated the administration will not negotiate or rescind tariffs unless other nations make significant trade policy changes.
The tariffs are part of a broader strategy to address trade imbalances, boost U.S. manufacturing, and reduce perceived exploitation of the American economy.
Global markets have experienced significant selloffs, while the European Union and China have vowed retaliatory measures against the U.S.
Key industries targeted for revitalization include automobiles, pharmaceuticals, shipbuilding, and machine tools, with the administration emphasizing U.S. economic leverage in trade disputes.