Washington: U.S. President Donald Trump announced plans to introduce reciprocal tariffs on Thursday but did not provide specific details about the new tariff measures, which could target all countries that impose duties on U.S. imports.
“Today is the big one: reciprocal tariffs,” Trump posted on his social media platform.
It remains unclear what time the tariff plan will be revealed. On Wednesday, Trump suggested it could be unveiled Thursday morning. The White House had previously informed reporters that the announcement would take place before Indian Prime Minister Narendra Modi’s scheduled visit. Modi is expected to arrive at 4 p.m. (1900 GMT).
The Republican president’s latest wave of tariffs has heightened concerns about an escalating global trade war and the potential for rising inflation in the U.S.
Since taking office on January 20, Trump has already imposed tariffs on all steel and aluminum imports starting March 12, enacted a 10% tariff on Chinese goods, and placed a temporary 30-day hold on tariffs for Canada and Mexico.
