Investing.com -- U.S. President Donald Trump has announced he will reveal reciprocal tariffs today, targeting countries that impose duties on U.S. imports. The specifics of the tariff plan remain undisclosed.
The President took to social media to declare, "Today is the big one: reciprocal tariffs." However, the precise time for the unveiling of the tariff plan was not immediately clear. Trump hinted on Wednesday that the announcement could take place Thursday morning. The White House had previously informed reporters that it would occur before Indian Prime Minister Narendra Modi’s visit to the White House. Modi is expected to arrive at 4 p.m. (1900 GMT).
This latest round of tariffs from the Republican president has increased concerns about a potential global trade war and the possibility of accelerated inflation in the U.S.
Since taking office on January 20, Trump has already implemented tariffs on all steel and aluminum imports starting from March 12. In addition, he has imposed a 10% tariff on goods from China and placed a 30-day hold on tariffs on goods from Canada and Mexico.
The President’s social media post read, "THREE GREAT WEEKS, PERHAPS THE BEST (NYSE:BEST) EVER, BUT TODAY IS THE BIG ONE: RECIPROCAL TARIFFS!!! MAKE AMERICA GREAT AGAIN!!!"
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