Trump’s Tariff Plans Spook Investors and EU Threatens Retaliation

White House aides have reportedly drafted a proposal to impose tariffs of roughly 20 percent on a wide range of U.S. imports, The Washington Post reports.

The president and his team have doubled down on their tariff messaging: Trump sees reciprocal tariffs — which he defines as “whatever they charge us, we charge them” — as a tool to bring jobs back to the United States and rebalance the country’s trade deficit. Meanwhile, he hasn’t refrained from introducing new ones: Last week’s announcement about levies on autos and car parts caught many in the industry off guard, setting off a rout in auto stocks.

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Originally posted on: https://www.nytimes.com/2025/04/01/business/dealbook/trump-tariffs-trade-war.html