Washington , DC [ US ], March 20 (ANI): White House Officials are getting ready to enforce extensive new regulations. tariffs on most imports by April 2 , escalating US President Donald Trump 's ongoing trade war In an unparalleled step that he has termed "Liberation Day," the Washington Post reported.

Through his first two months back in office, Trump has already raised tariffs on an estimated US D 800 billion in imports , focusing on major trading partners such as China, Mexico, and Canada. The approach was notably aggressive tariffs has sent shockwaves throughout the globe markets , leading to fluctuations on Wall Street, raising concerns about an economic downturn, and provoking counteractions from other countries.

Even with growing economic worries, high-ranking government officials are currently focusing on greatly broadening the extent of these initiatives. tariffs , handling responsibilities related to what sources close to the negotiations characterize as "trillions" of dollars worth of assets. imports This drastic step has worried economists, disturbed Republican lawmakers in Congress, and even left White House partners raising doubts about the practicality of enforcing such a broad-ranging trade taxation system.

Trump has framed the upcoming tariffs As an essential measure to compel businesses to relocate their manufacturing operations back to the United States and to secure financial advantages from international authorities. On Monday, when addressing journalists, he reaffirmed his conviction that this action would be beneficial. US has been taken advantage of due to unjust trade practices.

It marks a day of freedom for our nation as we will reclaim much of the wealth that we imprudently surrendered to various nations, both allies and adversaries. Trump said.

Referred to as the "mutual tariff" scheme, Trump His plan seeks to apply tariffs on imported products equivalent to tariffs that other nations enforce on American goods. Trump often referenced this idea during his campaign, asserting that other countries exploit the situation US by imposing much higher trade barriers.

Should India, China, or any other nation impose a 100% or 200% tariff on products made in America, we will respond by applying an identical tariff on their goods, Trump stated in a campaign video, "To put it simply, when they impose charges on us, we will respond with equivalent measures—retaliating tariff for tariff, ensuring it’s exactly equal."

While Trump His argument aligns well with his supporters; however, economic specialists have cautioned that many developed nations already possess comparable tariff structures. Data from the World Trade Organization indicates that the average US tariff is 2.2 per cent, compared to Japan's 1.9 per cent and the European Union's 2.7 per cent. Matching foreign tariff rates could send US Import duties are rising to heights last witnessed in the early 1930s, possibly hitting an average of 20 percent, as stated by Edward Gresser, a trade policy specialist.

The possible outcomes of this change have ignited intense discussions within the administration. Vice President JD Vance and Commerce Secretary Howard Lutnick have been at the center of these debates. White House Trade Adviser Peter Navarro and Treasury Secretary Scott Bessent are actively involved in talks regarding the implementation of new strategies. Trump His vision while reducing economic impact, as reported Washington Post.

The past two months have already caused harm to American businesses and consumers, but the April 2 Deadline could really make all of that appear insignificant, much like a storm in a teacup," stated Joseph Politano, an economic policy analyst at Apricitas Economics. "We aren't sure precisely what actions they will take, but based on their statements, it seems functionally equivalent to something new. tariffs on all US imports ."

Putting into place such an extensive tariff system presents significant logistical and legal hurdles. The Office of the US Trade Representative ( US The responsibility falls on TR to implement the plan; however, insiders within the administration have raised doubts about whether the agency possesses the necessary resources to execute targeted and effective retaliation. tariffs for each trading partner.

Government officials have discussed methods for classifying nations when determining tariffs. A suggested approach was to classify trading partners into one of three categories: high, medium, or low. tariffs However, this concept was eventually rejected in favor of establishing distinct rates for every country. Nevertheless, this personalized method introduces additional layers of complication to what is already a formidable challenge.

Trump holds certain legal power to enforce tariffs promptly following current trade regulations, especially those concerning China, due to an inquiry conducted in 2018 regarding Chinese trade activities. Furthermore, legislation from 1930 empowers the President to enforce such measures. tariffs up to 50 percent reduction for countries identified as engaging in discrimination US goods. However, imposing widespread tariffs Beyond this limit might necessitate getting approval from Congress—which the administration may find difficult to obtain.

To ensure legal viability, US Ambassador Jamieson Greer and Secretary Marco Rubio are collaborating to develop the strategy so that it can withstand possible legal hurdles. In contrast, Peter Navarro advocates for swift execution even as more wary colleagues express reservations.

Even before the complete specifics of the plan are revealed, globally markets Meanwhile, crucial sectors are preparing for potential effects. Over the last four weeks, the S&P 500 has declined by more than 8 percent, whereas the Nasdaq has tumbled almost 13 percent. Economic signals are raising alarms, as a closely monitored consumer confidence index has reached its weakest point since November 2022.

In February, manufacturing output reached its peak over the past two years; however, experts think this surge is merely a temporary response as companies rushed to accumulate supplies beforehand. tariffs make imports More costly. "Producers hurried to manufacture products in February prior to significant tariffs on imports might be enforced, along with handling a brief surge in orders caused by tariffs," noted Samuel Tombs, chief US economist for Pantheon Macroeconomics.

In the meantime, sectors encountering international competition are urging the administration for protection. tariffs The National Christmas Tree Association is currently looking for tariffs Regarding artificial Christmas trees, suggesting that they are inexpensive products from China. imports are undermining American producers. Likewise, the Southern Shrimp Alliance is requesting tariffs on imported frozen shrimp, leading to a sharp decline in domestic prices. US D 3 per pound in the 1980s to about US D 1.25 at present.

Various sectors are likewise looking for assistance.

The VP of JM Smucker Co., Michael Madriaga, has expressed dissatisfaction with the European Union. tariffs up to 24 percent off US jams and jellies exports, which he claims have hindered American sales in Europe while permitting almost US D €238 million worth of comparable European goods to inundate the market with US market, the Washington Post reported.

Even with opposition mounting, the administration remains steadfast. In an interview with Fox Business, Treasury Secretary Scott Bessent stated that the updated tariff strategy will take into account currency manipulation, labor standards, and other economic practices of trade counterparts. “We’ll assign each nation a score which will dictate their respective tariff rates,” Bessent explained, noting his expectation that numerous countries would reduce theirs as well. tariffs before the US duties take effect.

White House Spokesperson Kush Desai maintained that officials from the administration are unified in their belief that decisive measures are necessary.

"Despite the ultimate mutual tariff scheme for April 2 remains undisclosed by President Trump , each member of the Trump The administration is unified in its efforts to create fair competition for American industries and workers," Desai stated. " President Trump has gathered the most skilled and talented trading team in recent American history to restore American prominence, and they are diligently working with the same strategy in mind."

As the April 2 As the deadline looms, businesses, investors, and government officials are preparing for potentially the biggest change yet. US Trade policies over the past few decades. While Trump and his advisors continue to firmly believe that tariffs In the end, American workers will reap benefits from these changes; however, their initial effect has led to uncertainty, market volatility, and increasing concerns about potential economic disruptions. (ANI)