Trump outlines plan for reciprocal tariffs on global imports
Investing.com -- U.S. President Donald Trump has revealed a plan to impose reciprocal tariffs on all countries that levy duties on U.S. imports. The announcement, made on Thursday, is part of a broader trade strategy aimed at bolstering both economic and national security, according to the White House.
President Trump referred to the tariff plan as "the big one" in a social media post prior to his formal announcement. However, the tariffs will not be implemented immediately. Instead, the White House has indicated they could be put into effect within the coming weeks, following a detailed analysis of bilateral tariff and trade relationships by Trump's economic and trade team.
The White House official, speaking to reporters on a conference call, stated that the administration will initially focus on addressing the most "egregious" issues. This includes examining countries with the largest trade surpluses and highest tariff rates. The reciprocal tariffs, once implemented, will be charged on every country that currently imposes duties on U.S. imports.
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