President Trump on Wednesday disputed that his repeated threats of tariffs followed by exemptions or backtracking was not a case of inconsistency, but of “flexibility,” even as the approach has rattled financial markets.
“There’s no inconsistency,” Trump told reporters in the Oval Office. “I have the right to adjust.”
The president recounted his decision to exempt car parts from tariffs on Mexico and Canada for one month after the big three U.S. automakers — Ford, General Motors and Stellantis — reached out to raise concerns.
“And I’m not like a block that just, ‘I won’t delay.’ It’s called flexibility, it’s not called inconsistency,” Trump said in response to a question about tariffs being “on and off.”
“I’ll always have flexibility. But there will be very little flexibility once we start. April 2 is going to be a very big day for the United States of America,” he added, referencing the date on which he has said the U.S. will impose reciprocal tariffs on all nations that have duties on American goods.
Trump’s tariff policy has zigzagged in his first weeks in office, and the unpredictability has contributed to concerns among traders and a downturn in the stock market this week.
The president in early February threatened to impose additional tariffs on Mexico, Canada and China. The tariffs went into effect against Chinese imports, but were delayed for a month on Mexico and Canada.
The delayed tariffs went into effect earlier this month, but Trump within days announced exemptions for auto parts and goods that fell under the U.S.-Mexico-Canada trade agreement he signed in 2020.
The president this week also imposed broad steel and aluminum tariffs. He threatened to double the tariff on Canadian imports, but pulled back after the Ontario government backed down on its own surcharge on electricity exports to three U.S. states.
Trump has also vowed to impose tariffs on additional economic sectors, including cars, pharmaceuticals, semiconductors, lumber and other goods.
