White House Confirms April 9 Tariff Implementation Despite Market Sell-Offs

U.S. Commerce Secretary Howard Lutnick has stated that the White House will not delay the implementation of retaliatory tariffs scheduled to begin on April 9. This announcement comes amidst significant market sell-offs following President Trump's declaration of a 10% tariff on all imported goods and additional higher tariffs on imports from 57 major trading partners, effective from April 9.

In an interview on the program "Face the Nation" on Sunday, Lutnick emphasized that the Trump administration remains resolute in its decision to impose these tariffs, despite the global market turmoil that ensued after Trump's announcement on April 2. The market reaction included a sharp decline in U.S. and global stock markets, reflecting investor concerns over the potential economic impact of these tariffs.

Lutnick's comments underscore the administration's commitment to moving forward with the tariffs. "The tariffs are coming. He has announced it, and it is not a joke. The tariffs will definitely be implemented; it is inevitable," Lutnick stated. He further clarified that the White House has no intention of extending the deadline for the tariffs' implementation.

"There will be no delay. The tariffs will definitely take effect in the coming days and weeks. The president needs to readjust global trade. Currently, every country has a trade surplus, while we have a trade deficit," Lutnick explained. This stance aligns with the remarks made by Treasury Secretary Scott Bessen on the same day, who reiterated the administration's resolve to see the tariff policy through to completion.

Lutnick's firm stance on the tariffs reflects the administration's broader strategy to address perceived trade imbalances. The decision to proceed with the tariffs, despite the market's negative reaction, signals a willingness to prioritize trade policy objectives over short-term market stability. This approach is likely to have significant implications for global trade dynamics and economic relations between the U.S. and its trading partners.