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The president of the United States, Donald Trump, signs Executive Orders at the Oval Office of the White House in Washington, USA, January 30, 2025.
Elizabeth Frantz | Reuters
In an apparent end of weeks of intense speculation, the White House confirmed Friday that President Donald Trump will level aggressive tariffs this weekend in the main US business partners.
Karoline Leavitt, the White House Press Secretary, said Trump will implement 25% tariff country”. “
The White House provided few details on how exactly the encumbrances will be made, saying that they will be available for public inspection at some time on Saturday.
The actions, which had been positive at the beginning of the session, fell into the news, sending the Dow Jones industrial average to more than 200 points, or around 0.5%. However, the S&P 500 compound and Nasdaq remained positive.
“These are promises made and promises maintained by the president,” Leavitt said.
There was no news about possible exemptions to the rates; The White House denied an earlier Reuters report that there would be to the lease of some exclusions instead of simply general measures that cover all products, and that rates would be delayed until March 1.
Together, the United States about $ 1.6 billion in annual businesses with the three countries. Trump is trying to use rates such as negotiation chips and methods to affect changes in foreign policy, specifically the problems of immigration and drug trade.
“We have the Super Bowl to come, and disturbingly, the number of people that fit in the Superdome (in New Orleans) are almost exactly the same to the number of people who die every year here in the United States by Fentanyl, and that comes from China And Mexico, “said Trump’s commercial advisor Peter Navarro, CNBC in an interview on early Friday. “That is why we have this type of discussions.”
Economists concern that tariffs can rekindle inflation at a time when price pressures begin to decrease. The Department of Commerce reported on Friday that an inflation reading closely observed by the Federal Reserve increased to 2.6% in December, but the details in the report seemed more positive.
However, Fed officials have said they are monitoring the impact of fiscal policy.
“It will be very important to have a better sense of real policies and how will, in addition to greater confidence on how the economy will respond,” said Fed Michelle Bowman.
Speaking to CNBC on Friday morning, Chicago Fed president Austan Goolsbee said the key will be if tariffs are unique events or lead to reprisals.
