What Project 2025 Tells Us About What Will Happen With Tariffs On April 2

Summary

• Project 2025, a political initiative launched by American conservative think tank The Heritage Foundation and published in April 2023, sets out a comprehensive roadmap to fundamentally reshape the federal government.
• The section entitled "The Case for Fair Trade", by Peter Navarro, provides a blueprint for what will happen on April 2 and makes it clear that the US must strengthen its manufacturing and defence industrial base while improving the reliability of its global supply chains, which requires onshoring production.
• Tariffs will be raised substantially, and with nontariff barriers cited as a primary reason for the trade deficit, higher tariffs on imports will persist. India, Taiwan, Vietnam, Thailand, China, and the EU top the list.
• To avoid tariffs altogether, Navarro proposes an alternative: Border Adjustment Tax (BAT), according to which, goods would be taxed based on where they are consumed rather than where they are produced.

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By Inga Fechner

If you want a glimpse into what could happen in the United States over the next four years, we encourage you to take a look at “Project 2025.” The political initiative, launched by The Heritage