President Donald Trump of the United States stated that he would announce reciprocal tariffs on Thursday, but he provided no information about his most recent tariff proposal, which may target all nations that impose import taxes on American goods.
Trump posted on social media, “Today is the big one: reciprocal tariffs.”
The timing of Trump’s tariff plan’s announcement was unclear at first. Trump hinted on Wednesday that it might occur on Thursday morning. It would take place prior to Indian Prime Minister Narendra Modi’s visit to the White House, the White House had previously informed reporters. The arrival time of Modi is set for 4 p.m. (1900 GMT).
The most recent round of market-shaking tariffs imposed by the Republican president has increased concerns about a growing global trade war and raised the possibility that U.S. inflation will pick up speed.
Trump, who assumed office on January 20, has already announced that all imports of steel and aluminum will be subject to 10% tariffs starting on March 12; he has also placed a 30-day hold on tariffs on goods from neighboring Canada and Mexico.
