A report from the Washington Post today highlights the direction that the US is headed on April 2, which Trump called “Liberation Day” on Monday.
- The report confirms yesterday’s report that the US flirted with the idea of three baskets of tariff rates but it was rejected
- The US will assign a tariff rate number to each country
- Bessent indicated that those tariffs may not go into effect on each country with some choosing to negotiate before April 2
- It’s not clear what legal authority the US will use
- The President likely doesn’t have the Constitutional power for broad tariffs
- It’s not clear the USTR has the staff or organizational experience to implement the tariffs
This article was written by Adam Button at www.forexlive.com.
