Donald Trump, on Friday afternoon, oversaw the swearing-in of his new top tariff official, confirmed a plan that will likely consider digital service taxes as akin to tariffs, and again promised to impose reciprocal tariffs «soon.»
The comments capped off a week of trade threats from the Oval Office even as evidence emerged that Americans are growing wary that new duties could be reflected in their prices.
«The tariffing is going to be interesting,» Trump promised as he spoke to reporters in the Oval Office.
He was joined Friday by Howard Lutnick, the new Commerce secretary who was sworn into office by Vice President JD Vance and who Trump has said will lead his trade efforts.
Trump also confirmed Friday afternoon he will soon open up another wrinkle in his effort for reciprocal tariffs with a plan that could lead to tariffs being levied in retaliation for foreign taxes on US tech companies.
«What they’re doing to us in other countries is terrible on digital,» Trump said.
The latest round of tariff brinkmanship came even as American consumers offered a dimming outlook on the economy. The latest University of Michigan consumer sentiment survey was driven largely by higher inflation expectations from Trump’s possible duties.
The Oval Office commentary on late Friday afternoon also saw Trump confirm he is considering a plan to end the United States Postal Service as an independent entity and merge it into Lutnick’s Commerce Department.
The organization’s board of governors is reportedly considering a plan to sue to stop the action.
«We want to have a Post Office that works well,» Trump said, calling the possible plan «a form of a merger.»
The commentary from Trump came after a week in which the president has promised 25% tariffs on automobiles, semiconductors, imported drugs, and even lumber. The deadline, he said, is April 2 after a formal review of reciprocal tariffs is complete.
Trump has also promised to levy 25% tariffs on steel and aluminum, set to take effect on March 12.
Read more: What are tariffs, and how do they affect you?
Trump said earlier Friday that 25% tariffs on foreign cars will «probably» start on April 2 during an appearance with state governors, saying that he wanted to avoid making the announcement on April Fools’ Day.
«It’s going to cost a lot of money to wait one day,» he joked.
Trump and his aides have also begun to tout the potential revenues from tariffs, specifically the 10% duties on China the president has already imposed.
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