Inside Trade

October 29, 2025

Trump renews sectoral tariff vow; Lutnick eyes April 2 for External Revenue Service

By David LaRoss  / March 24, 2025 at 5:25 PM
President Trump said Monday he would impose new sector-specific tariffs on cars and pharmaceuticals “very shortly,” despite reports that they could be pushed beyond an April 2 target date, while Commerce Secretary Howard Lutnick said April 2 also would be the launch day for Trump’s planned “External Revenue Service” in addition to hotly anticipated “reciprocal” duties. Trump brought up sectoral tariffs twice on March 24 -- first at a Cabinet meeting and then during a press conference with Louisiana Gov...

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