U.S. President Donald Trump suggested on Monday that he may offer tariff concessions to some trading partners ahead of an April 2 deadline to implement "reciprocal tariffs," a move that could reshape global trade dynamics. Speaking to reporters, Trump emphasized flexibility, stating, "I may give a lot of countries breaks, but it's reciprocal."
The announcement follows a recent agreement with the European Union to reduce car tariffs to 2.5%, signaling potential relief for certain industries. However, Trump also warned of new 25% tariffs on nations purchasing Venezuelan oil and gas, alongside upcoming levies targeting automobiles, lumber, and semiconductor chips.
"April 2 will be a big day," Trump said, framing the deadline as a cornerstone of his "America First" trade strategy. Economists, however, caution that escalating trade tensions could heighten recession risks. JPMorgan’s chief global economist recently raised the probability of a U.S. recession in 2023 to 40%, citing policy unpredictability.
For Asian markets, the developments present both uncertainty and opportunity. Analysts note that nations with strong U.S. trade ties—particularly in automotive and tech sectors—may face renewed pressure, while tariff adjustments could benefit regional exporters navigating shifting global supply chains.
