Overview

• President Donald Trump announced that the US will enforce reciprocal tariffs on April 2, targeting nations with higher tariffs or non-tariff barriers on American goods.
• Trump expressed willingness to negotiate agreements with countries seeking to avoid the tariffs but emphasized that such deals would occur only after enforcement and in exchange for significant concessions.
• The European Union is preparing a term sheet for potential negotiations, outlining concessions like reduced tariffs and eased regulations to mitigate the impact of US tariffs.
• Trump hinted at plans to introduce tariffs on the pharmaceutical industry, though he provided no details on timing or rates, leaving the specifics unclear.
• US-India trade relations were highlighted positively, with Trump emphasizing progress in discussions and praising Indian Prime Minister Narendra Modi as a strong ally.