President Donald Trump unveiled sweeping “reciprocal tariffs” Thursday, targeting both allies and rivals in a bold trade move.
Speaking from the Oval Office, Trump accused U.S. partners of unfair trade practices, saying some allies were “worse than enemies.”
The tariffs will match foreign duties and consider non-tariff barriers like value-added taxes (VAT), aiming to correct trade imbalances.
A White House official said the policy will first target nations with the largest deficits, with measures rolling out in weeks.
Trump acknowledged prices “could go up” but insisted the move would benefit the U.S. economy long term.
The announcement came ahead of his meeting with Indian Prime Minister Narendra Modi, with analysts warning of potential impacts on India and Thailand.
Economists fear the tariffs may fuel inflation rather than reduce costs, raising concerns about economic growth.
