President Donald Trump is set to reveal the next targets of his wide-ranging tariffs.
Wednesday (April 2) is the day he had circled on the calendar since his second term began.
The tariffs already in effect include 20% on China, limited 25% tariffs on Canada and Mexico, and 25% on all imported steel and aluminum.
The new tariffs will be announced during a 4 p.m. Rose Garden event.
According to White House insiders, it will be a new list of countries facing “reciprocal” tariffs.
Sources told Local 4 that it would include between 10 and 15 trade partners that contributed the most to the $1.2 trillion U.S. trade deficit.
Those countries include major economies such as the European Union, Japan, South Korea, and India, to name a few.
At a briefing on Tuesday, White House Press Secretary Karoline Leavitt stressed that the president is open to negotiating tariffs and is taking calls from foreign leaders or industry executives asking for leeway.
As we wait for that announcement, we get a better sense of what will likely cost more in the short term under the tariffs already in place.
You have probably already heard about the price of cars, but the cost of funerals will be impacted as caskets are made out of steel, wood, and aluminum, and are among the items that may soon become more expensive.
The James H. Cole Funeral Home on Detroit’s west side is feeling the effects of tariffs, and yes, even dying could be more expensive soon.
Caskets made with materials that will soon cost more and urns made overseas could create a bigger disruption to business than COVID-19.
The real concern for many business owners is trying to plan for the uncertainty of it all.
Trump is calling Wednesday Liberation Day. He will announce additional items that may soon be subject to tariffs, stating that it is necessary to protect the U.S. financially.
Whether we are talking about cars, fruit, or funerals, the bottom line is that we all may be paying more for many things.
Watch the video above for the full story.
