'There’ll be flexibility’ on reciprocal tariffs: Trump

WASHINGTON

US President Donald Trump said Friday that there will be "flexibility" on reciprocal tariffs, which are expected to come into effect on April 2.

"People are coming to me and talking about tariffs, and a lot of people are asking me if they could have exceptions. And once you do that for one, you have to do that for all," Trump told reporters at the White House.

About granting a one-month tariff exemption for automakers in March, Trump said had not changed his mind on the tariffs, which have rocked world economies and markets over fresh uncertainties and the threat of a trade war.

"Everybody said: 'Oh, he changed his mind on tariffs.' I didn't change my mind ... I helped some of the American companies.

"The word flexibility is an important word. Sometimes it's flexibility. So there'll be flexibility, but basically it's reciprocal," Trump added.

Calling April 2 "Liberation Day for America,” the president repeated his charge that the US has been “ripped off by every country in the world ... and now some of that money is going to be coming back to us in the form of tariffs."

Many economists, however, say the jobs losses and economic pain from tariffs outweigh any projected benefits.

Trump also said that he plans to speak with Chinese President Xi Jinping, whose country is one of the chief targets for Trump’s tariffs.