U.S. President Donald Trump said on the 12th (local time) that the United States could show "flexibility" regarding tariffs until the announcement of mutual tariffs on the 2nd of next month. This was in response to criticism of his fluctuating tariff policy, as he reversed his statement made just half a day earlier to impose an additional 25% tariff on steel and aluminum imports from Canada, bringing the total to 50%. Although Trump used the term "flexibility" instead of the "uncertainty" referred to by the market, it seems to imply that the tariff policy could change frequently in the future.
During a meeting with Prime Minister Mihal Martin of the island nation on that day at the White House, when concerns about the inconsistency of tariff policy were raised, Trump rebutted, saying, "It’s not inconsistency; it’s flexibility." He mentioned the fact that he accepted requests from the American auto industry to postpone tariffs on automobiles imported from Mexico and Canada by one month. When asked if he would continue to show flexibility, Trump replied, "I will always maintain flexibility." However, he added, "Once we start, there will be very little flexibility from then on."
Trump continued, "April 2nd will be a very important day for the United States," stating that, "The U.S. will reclaim a significant portion of what other countries are stealing from us, as allowed by our incompetent leaders." It appears to mean that he can show flexibility regarding tariffs until the scheduled date of mutual tariffs on April 2nd. In this regard, the Office of the United States Trade Representative (USTR) and the Department of Commerce are required to submit a report by April 1st that identifies unfair trade practices from trading partners and outlines ways to improve them, under Trump's directive.
Regarding the recent sharp decline in the stock market due to the uncertainty surrounding tariff policy, Trump remarked, "The U.S. economy will become stronger in the future," and expressed his belief that "once we see what is happening, the stock market will surge." He referred to the slowdown in the consumer price index released that day as "very good news."