White House Says Trump Tariffs Tomorrow Will Take Effect ‘Immediately’

WSJ What’s News

The Wall Street Journal

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4 • 4K Ratings

🗓️ 1 April 2025

⏱️ 12 minutes

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Summary

P.M. Edition for April 1. Trump met with advisers to iron out the final details of his reciprocal tariff plans, as Canada and the EU prepare their responses. Plus, anticipation of tariffs boosts U.S. car sales for March. But, as deputy bureau chief for autos Mike Colias tells us, companies don’t think the good times can last. And the M&A boom Wall Street was hoping for is happening. Reporter Ben Glickman says it just looks a little different than they might have expected. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	President Trump puts the final touches on the tariffs he's set to announce tomorrow,
0:07.6	as Canada and the European Union plan for retaliation.
0:11.4	Plus, U.S. auto sales ticked up in anticipation of tariffs.
0:16.4	But can the good times last?
0:18.2	Most of the tariff talk that we've all heard and been consuming the news
0:22.6	over the last several weeks have not gone into effect. What you're seeing now is the effect of people's
0:28.5	concern around the threat of tariffs. And Wall Street is experiencing a mergers and acquisitions boom,
0:36.3	just not where you'd expect it.
0:38.5	It's Tuesday, April 1st. I'm Alex O'Sullough for the Wall Street Journal. This is the PM edition
0:43.6	of What's News, the top headlines and business stories that move the world today.
0:59.9	The White House said today that President Trump is putting the finishing touches on his tariff plans,
1:02.5	which he will announce tomorrow at 4 p.m. Eastern.
1:09.4	White House Press Secretary Caroline Levitt said the president met with advisors this morning to iron out the final details.
1:12.5	My understanding is that the tariff announcement will come tomorrow. They will be effective immediately. And the president has been teasing this for
1:17.2	quite some time, as you know. He's talked a lot about April 2nd as Liberation Day in America.
1:21.8	It would be taking place today, if not for April Fool's Day. But tomorrow will be the day.
1:27.0	Levitt said the president had already decided on his overall approach to the tariffs,
1:31.0	but declined to provide additional details.
1:33.5	She also played down concerns about how Wall Street would fare under the new levies.
1:40.4	Canadian Prime Minister Mark Carney reiterated his intention to slap retaliatory tariffs against the U.S.
1:46.5	Should the country be targeted under President Trump's latest batch of tariffs coming tomorrow?
1:51.5	At an election campaign stop in Winnipeg today, Carney acknowledged there were limits on what duties Canada can impose,
	...

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