Trump Hints at Tariff Exemptions Ahead of April 2 Rollout

Washington, D.C. — President Donald Trump suggested Monday that several countries might receive exemptions from the upcoming “reciprocal” tariffs set to take effect next week.

Speaking at the White House, Trump acknowledged reports from Bloomberg and The Wall Street Journal indicating that the tariff plan—initially described as a global effort to match duties imposed on U.S. goods—could be more limited in scope, with certain nations and industries spared.

"I may give a lot of countries breaks," Trump said in response to questions about potential exemptions but did not specify which countries might benefit.

He also revealed that additional tariffs would be announced in the coming days, targeting sectors such as automobiles, lumber, and semiconductor chips. “We’ll be addressing cars, lumber, and chips in the future,” Trump stated.

Trump Defends Tariffs, Hints at Exemptions as Global Trade Tensions Rise

Washington, D.C. — President Donald Trump doubled down on his trade policy Monday, declaring that the U.S. has been "ripped off by every country" and predicting that the tariffs set to take effect on April 2 would generate "astronomical" revenue, helping to keep taxes low.

Speaking after a cabinet meeting, Trump pointed to Hyundai’s decision to build a new steel plant in Louisiana and expand auto production in Georgia as evidence that his trade policies were yielding results.

However, uncertainty remains over the scope and timing of the tariffs. The Wall Street Journal and Bloomberg, citing administration sources, reported that certain industry-specific tariffs might be delayed. A Reuters report, also citing a White House official, described the situation as fluid, with no final decisions made.

Meanwhile, Canada has been in talks with the Trump administration in recent weeks, seeking exemptions from the tariffs. Officials who met in Washington recently expressed optimism about reaching a deal.

Prime Minister Mark Carney, who launched his re-election campaign on Sunday, indicated that broader trade and security negotiations with the U.S. might have to wait until after Canada’s federal election on April 28. “The president is waiting for the outcome of the election to see who has a strong mandate from Canadians,” Carney said during a campaign stop in Gander, N.L.

Despite the election, Carney retains limited authority under Canada’s caretaker convention to respond to any new U.S. trade measures deemed urgent and in the public interest.

Trump Officials Outline ‘Dirty 15’ Target List as Tariff Deadline Approaches

Washington, D.C. — The Trump administration is expected to focus its April 2 reciprocal tariff rollout on a select group of countries with significant trade surpluses and restrictive trade barriers, Treasury Secretary Scott Bessent and top White House Economic Adviser Kevin Hassett confirmed last week.

Bessent, speaking to Fox News, referred to these nations as the “Dirty 15,” while Hassett estimated the target list would include between 10 and 15 countries.

With a trade deficit of over $60 billion—largely driven by energy exports—Canada could find itself on that list. However, when energy is excluded, the trade balance shifts in favor of the U.S. Even if Canada is spared, April 2 also marks the expiration of temporary exemptions on auto parts and other goods traded under North American agreements, initially granted to pressure Canada and Mexico on fentanyl trafficking.

Bessent explained that affected countries would receive a reciprocal tariff rate based on their own duties, trade barriers, and currency practices, but suggested that some tariffs might be avoided through negotiations. “I’m optimistic that on April 2, some tariffs may not need to go into effect if a deal is pre-negotiated,” he told Fox News.

The move is part of a broader effort to address the U.S.’s $1.2 trillion global goods trade deficit by aligning American tariffs with those imposed by other nations.

Meanwhile, Trump escalated trade tensions further Monday by announcing 25 percent secondary tariffs on any country purchasing oil or gas from Venezuela. He also reaffirmed existing tariffs on steel and aluminum and signaled potential new levies on European goods and pharmaceuticals.

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