U.S. President Donald Trump signed an executive order with Treasury Secretary Scott Bessent (L) and Business Secretary Howard Lutnick (R) to establish the U.S. sovereign wealth fund in the Oval Office of the White House on February 3, 2025.
Jim Watson | AFP | NebraskaDailyNews
White House aides drafted a proposal that would impose about 20% on tariffs on most imports, The Washington Post reported Tuesday.
The report cites three people familiar with the matter. It also said White House advisers warned that there are still several options, meaning 20% tariffs may not appear. Another plan under consideration is a country-by-country “reciprocity” approach, according to the Post.
The report comes the day after Donald Trump announced his larger global trade plan the day before April 2. The date has been listed on Wall Street, where stocks have been struggling, in part because of uncertainty surrounding the rapid changes in global trade policies.
Unlike the tariffs already announced by the Trump administration, the new plan is expected to be more common and permanent, rather than targeting specific countries or industries. Trump and his advisers said the goal is to make trade between the United States and other countries more equitable, while also increasing revenue for the federal government.
Some economists warn that new tariffs will lead to higher economic growth and inflation at least in the short term. The state may also issue retaliatory tariffs on the White House.
In recent months, emerging trade wars seem to have hurt investors, consumers and business leaders’ confidence. In the first three months of the year, the S&P 500 fell 4.6%, while the technology-heavy Nasdaq Composite fell 10.4%. Surveys of consumer and business leaders have also shown an increase in uncertainty since the beginning of 2025.
A White House spokesman declined to comment on the post.
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(tagstotranslate) Tariffs
