Trump promises reciprocal tariffs, details still unknown
2 Min Read
Trump's announcement comes after stirring trouble with the Canada, Mexico, and the EU with his 25% tariffs on steel and aluminum imports to the US.
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US President Donald Trump speaks at the Oval Office on February 12, 2025. (AP)
US President Donald Trump said he would unveil reciprocal tariffs on Thursday, without revealing any more details, however, the tariffs could be aimed at any countries that charge duties on US imports, with him posting, "Today is the big one: reciprocal tariffs," on Truth Social.
It is not clear when Trump will reveal the tariff plan, however, he hinted that they could come on Thursday morning, and the White House said the tariffs will be unveiled before Indian Prime Minister Modi's White House visit scheduled at 4:00 PM (19:00 GMT)
Trump ignites fears of a trade war
Trump imposed a 25% tariff on all steel and aluminum imports to the United States on Monday, in a measure that he said would affect "everybody" in another move that will overhaul the United States' trade policy.
These tariffs mostly affect Canada and Mexico, with Canada accounting for 79% of all US imports, while Mexico is a key supplier of aluminum scraps and alloys, and the two countries were already hit with other tariffs.
Canada denounced those tariffs, with the Prime Minister calling them unacceptable and adding that Canada will lay out the cons of such a move, and if that doesn't work, will take retaliatory action, with the North American country planning to file a complaint to the World Trade Organization.
On the other hand, the Mexican president announced her country might retaliate with tariffs of its own, stating the drugs are a US problem despite Trump's insistence that Mexico is responsible for the influx of fentanyl into the country.
The European Union said it would take action in response to Trump's tariffs on the metals, with the European Commission saying that "The EU sees no justification for the imposition of tariffs on its exports. We will react to protect the interests of European businesses, workers, and consumers from unjustified measures."
Trump imposed a 25% tariff on steel and 10% on aluminum both affecting European states during his first term, while the EU imposed a 25% tariff on US goods in retaliation, affecting 2.8 billion euros worth of goods coming from the United States.
