Trade Cases
Trump says exceptions could exist on reciprocal tariffs
Written by Ethan Bernard
March 24, 2025
President Trump said on Monday there may be exceptions for some countries on reciprocal tariffs.
“I may give a lot of countries breaks, but it’s reciprocal, but we might be even nicer than that,” Trump said at a White House press conference on Monday announcing Hyundai’s $5.8-billion investment to build a steel plant in Louisiana.
He had been asked by a reporter if certain countries or sectors might get a break on the levies.
Trump called April 2 “Liberation Day,” when the reciprocal tariffs will be announced.
However, he noted that 25% duties on users of Venezuelan oil were announced as well on Monday, and that these would be in addition to any existing tariffs.
Also, he said: “We’ll be announcing some additional tariffs over the next few days, having to do with automobiles … and having also to do a little bit with lumber down the road.”
“But for the most part, April 2 will be a big day,” he added. “That’ll be ‘Reciprocal Day,’ and we’ll be bringing some of the money back that’s been taken from us.”
The president didn’t specify any exceptions for any particular countries or sectors.
As SMU previously reported, Trump has said he has no plans for exemptions on the recently enacted Section 232 steel and aluminum tariffs.
Ethan Bernard
Read more from Ethan BernardLatest in Trade Cases
Price on Trade: IEEPA tariffs head to the Supreme Court, DOJ ramps up trade enforcement
International trade law and policy remain a hot topic in Washington and beyond this week. We are paying special attention to the ongoing litigation of the president’s tariff policies and the administration’s efforts to heighten trade enforcement.
Mexico considers stiff tariffs for steel, autos, and other imports
Mexico is considering imposing steep tariffs on imports of steel, automobiles, and over 1,400 other products. Its target? Countries with which it does not have free trade agreements, mainly China, India, Thailand, and other South Asian nations.
Leibowitz: With ‘reciprocal’ tariffs struck down again in court, what happens next?
President Trump’s “reciprocal” tariffs under the International Emergency Economic Policy Act (IEEPA) were struck down again, this time on Aug. 29 by the Court of Appeals for the Federal Circuit (CAFC). The legal and policy mess continues, with the next stop being the US Supreme Court.
Market unfazed by US circuit court’s IEEPA decision
Repealing any reciprocal tariffs placed by President Donald Trump on US imports of direct reduced iron (DRI), iron ore, hot-briquetted iron (HBI), and pig iron would have only a nominal impact on the US steel market, market participants said.
ITC votes to keep HR duties after sunset review
The US government determined this week that hot-rolled steel imports from a handful of countries continue to threaten the domestic steel industry.