• White House prepares fresh tariff measures as negotiations with trading partners intensify.
  • Russia remains exempt from new tariffs amid Ukraine peace talks, sparking controversy.
  • Company-specific exemptions may be introduced as administration seeks flexibility in trade policy.

New Tariff Measures Loom

White House Economic Council Director Kevin Hassett has indicated that additional tariff announcements could come before markets close today, marking the latest move in the Trump administration's aggressive trade policy overhaul. The news follows last week's sweeping 10% across-the-board tariff on imports and country-specific reciprocal measures that excluded only China and Russia.

"We're establishing a very orderly process for these negotiations," Hassett said, though he declined to specify which of the 15 countries that have made explicit offers might receive priority treatment. Administration officials confirm at least 75 nations have initiated contact since the tariffs were announced, with more than 50 expressing interest in new trade agreements.

Russia Exception Draws Scrutiny

The decision to exempt Russia while maintaining tariffs on allies like Canada and Mexico has raised eyebrows in policy circles. Hassett defended the move during an ABC News interview, stating the exemption aims to avoid complicating delicate Russia-Ukraine peace negotiations that could affect "thousands and thousands of lives."

Meanwhile, U.S. Customs and Border Protection has already issued guidance excluding $644 billion in imports from the reciprocal tariffs, including $185 billion in Canadian and Mexican goods. Electronics such as smartphones and laptops also received exceptions, though pharmaceutical and semiconductor sectors face uncertainty as Section 232 investigations continue.

Flexible Approach Emerges

President Trump hinted at potential company-specific exemptions during April 9 remarks, emphasizing the need to "navigate under, around, or over the obstacle" when implementing trade policy. The administration appears to be adopting a more nuanced approach following initial blanket measures, with Hassett noting some U.S. auto plants have already added shifts in response to the tariffs.

While defending the policies as necessary to address decades of wage stagnation, Hassett acknowledged short-term consumer impacts. Markets will be watching closely for whether today's expected announcements include details on the long-anticipated pharmaceutical tariffs or clarity on the exemption process.