The mutual tariffs announcement by U.S. President Donald Trump is expected on April 2. Confusion over the scope of the tariffs is increasing uncertainty in global trade. The deadline for federal agencies to investigate unfair trade practices, which President Donald Trump gave on the day he took office, will expire next week. Trump, who emphasizes his favorite word “tariff” at every opportunity, is planning to announce mutual tariffs on April 2. Trump defines April 2, which he sees as a significant day for trade policy, as Independence Day. It remains uncertain which countries and products Trump will target with tariffs, as he claims that all countries, friends, and enemies alike, are taking advantage of the United States. While closely monitoring the news flow related to Trump’s tariffs, it is noted that the scope of mutual tariffs may be narrower than expected. Reports in the U.S. media and Trump’s recent statements support these expectations. According to these reports, the White House could exclude tariffs on certain industrial sectors, narrowing down the approach for tariffs to be announced on April 2. It is expected that mutual tariffs will be imposed on countries with significant external trade volume with the U.S. The Trump administration is reportedly focusing on countries with major trade imbalances with the U.S. Trump had previously announced tariffs on sectors such as automobiles, pharmaceuticals, and semiconductors, but it is now deemed unlikely for him to announce specific tariffs on these sectors on April 2, although plans are still subject to change. In a recent statement, Trump pointed out that he will announce tariffs on automobiles and pharmaceuticals soon, but the lack of a specific date adds to the uncertainty. Some reports suggest that the Trump administration is considering a two-stage strategy for the new tariff regime, which includes initiating emergency duties while investigations on trade partners are completed. Trump’s team is said to be evaluating plans to establish a stronger legal framework for the tariff regime and generate resources for tax reductions. Trump hinted at flexibility in his March 21 announcement regarding mutual tariffs, stating that they could be flexible, indicating that they will apply tariffs commensurate with those levied by others on the U.S. and stressing that the reciprocal tariffs will be fair. He also mentioned on March 24 that exemptions could be granted to many countries regarding mutual tariffs. Trump used the following words: “We may get less than what they are taking from us because they have taken so much tax from us that I do not think they can handle it. In other words, they took so much tax from us that I am ashamed to impose the tax they imposed on us, but it will be a significant amount and you will hear that on April 2.” Uncertainty surrounds the fate of the tariffs that the U.S. imposed on its major trading partners, Canada and Mexico, due to fentanyl and irregular migrant flows. Trump, who implemented a decree on March 4 to impose a 25% customs duty on goods imported from Mexico and Canada, signed regulations foreseeing exemptions until April 2 for goods compliant with the United States-Mexico-Canada Agreement (USMCA). The regulations lowered the customs duty rate on Canadian potassium (fertilizer used by farmers) to 10%, and exempted cars that meet USMCA requirements from tariffs. There has been no announcement from the administration yet on how the tariffs on Canada and Mexico will proceed after the expiration of these exemptions. Despite ongoing uncertainties about the scope, the new tariffs planned by the U.S. are expected to escalate tension in global trade.