The president of the United States (USA) Donald Trump has accelerated his response time about his own tariff threats on Monday. President Trump hinted at the possibility that “many” countries obtain exemptions from their own planned tariffs that are scheduled to enter into force on April 2. The exact details of the tariff package planned by the Trump administration are still eternally elusive, but that has not prevented President Trump from reiterating both his firm dedication to increasing the financing flows of the US government of the US government through the imposition of taxes to his own voters, as well as expressing his willingness to explore exemptions for any country that is willing to negotiate.
President Trump’s new tariff comments arrive just after his own comments made earlier on Monday. Donald Trump specifically highlighted Hyundai’s recent announcement to invest strongly in the manufacture of cars within the US. The fact that Hyundai’s planned investment is completely destined to expand the production of electric vehicles, an automotive class that the Trump administration is actively trying to limit, apparently did not reach the table of the president in time for his comments.
The expansion of the production of electric vehicles by Hyundai will also probably attract the wrath of Elon Musk, Donald Trump’s pseudo-presidencial partner, whose Tesla electric car company will face new competitive pressures in the US market.
Outstanding aspects
Hyundai will build a steel plant in Louisiana, will create around 1,400 jobs.
Hyundai’s investment makes it clear that tariffs work. Hyundai will not have to pay any tariff.
The Hyundai steel plant is part of a larger investment of $ 21,000 million in the US.
Hyundai is also increasing car manufacturing in Georgia.
The Hyundai plant will produce more than 2.7 million metric tons of steel per year.
I can give many tariff exemptions to several countries.
I will announce additional tariffs in the next few days.
I will announce additional tariffs in the next few days on cars, wood and chips.
Tariffs for doing business with Venezuela will join existing tariffs.
Not all tariffs will be included on April 2.
I will probably announce cars tariffs in the next few days.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
