Tariffs
Who has been confirmed as the new U.S. Commerce Secretary and what will be his role?
Howard Lutnick has been confirmed by the Senate as U.S. Commerce Secretary. As a Wall Street billionaire, Lutnick will now be positioned at the forefront of Washington's tariff and trade policies and agenda. In this influential role, Lutnick will help shape U.S. economic relations on the global stage, particularly concerning trade strategies and commerce policies. His appointment comes at a time when international economic relationships are under significant scrutiny, placing him in a key position to influence America's commercial direction.
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WION
01:32 - 01:42
What are the proposed tariff rates for autos, semiconductors, and pharmaceuticals?
President Trump indicates that the auto tariff rate will be around 25%, which he plans to officially announce on April 2. For semiconductors and pharmaceuticals, he states the tariffs will start at 25% and increase 'substantially higher over a course of a year.' Trump emphasizes that these tariffs will not apply to companies that manufacture within the United States. His policy aims to give foreign companies time to establish plants or factories in America, as he notes, 'when they come into the United States and they have their plant or factory here, there is no tariff.'
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CBS News
04:21 - 04:55
What is causing major companies to return to the United States?
Major companies are returning to the United States due to the economic policies implemented by the Trump administration, specifically tariffs, taxes, and incentives. According to President Trump, these measures have made it more attractive for large corporations to relocate their operations back to America instead of building facilities in other countries. Some automotive and semiconductor companies are already canceling planned plants in locations like Mexico to establish operations in the US instead. This shift represents significant economic decisions being made by some of the world's biggest companies, potentially boosting American manufacturing and job creation.
Watch clip answer (00:56m)CBS News
03:08 - 04:05
How did the European Union adjust their car tariffs according to Donald Trump?
According to Trump, the EU has reduced their car tariff from 10% to 2.5%, which is now exactly the same rate that the US imposes. This alignment represents a significant change in the trade relationship between the US and EU, potentially saving a 'tremendous amount' for American exports. Trump expressed appreciation for this adjustment while noting that not all countries might follow suit. He emphasized that this move helps create a more level playing field in international trade through 'reciprocal' tariff policies where countries charge each other the same amount. Despite this positive development, Trump still characterized the EU's historical trade practices as 'very unfair' to the United States.
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Al Jazeera English
00:00 - 00:47
What changes has the European Union made to car tariffs and how does President Trump view this development?
The European Union has reduced its car tariffs from 10% to 2.5%, matching the exact rate the United States charges. President Trump appreciates this move toward reciprocal charging practices, viewing it as creating a more level playing field in trade relations. While acknowledging this positive development, Trump still maintains that the EU has historically been unfair to the US, emphasizing that his tariff strategy aims to ensure all countries charge the same amount in a reciprocal manner. This reduction represents significant progress in addressing trade imbalances.
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Al Jazeera English
00:00 - 00:47
What does Japanese trade data reveal about its economic recovery and what challenges does it face?
Japanese trade data indicates a modest economic recovery is underway in the current quarter, with a notable jump in exports suggesting positive momentum. This growth signals that Japan's economy may be gradually strengthening after recent difficulties. However, this recovery comes with significant caveats. The most concerning threat is the potential implementation of US tariffs, which casts a shadow over Japan's export-driven growth. These possible trade restrictions could undermine the fragile progress and complicate Japan's economic outlook, creating uncertainty for its continued recovery.
Watch clip answer (00:14m)
WION
02:32 - 02:46