Trump's Tariff Tactics: A Trade War Tempest

President Donald Trump's administration plans to announce reciprocal tariffs on countries imposing duties on U.S. imports, heightening fears of a global trade war. This move comes ahead of Indian Prime Minister Narendra Modi's visit and may further escalate U.S. inflation. Industries in various sectors express concerns over potential impacts.

In a bold move likely to intensify global trade tensions, the Trump administration announced a sweeping plan to impose reciprocal tariffs on countries charging duties on U.S. imports. This decision, revealed by the White House, is poised to escalate fears of a burgeoning global trade war.

As President Trump prepares for Indian Prime Minister Narendra Modi's visit, the latest announcement adds potential strain to international relations. Concerns are mounting over potential impacts on U.S. inflation and key industries as steel and aluminum tariffs come into effect soon.

While some sectors brace for soaring costs, trade talks between EU ministers highlight the urgency of mitigating retaliatory measures. Key trade figures are urging for calm negotiations, as the European Union seeks to address tariff-related tensions with strategic dialogue.

(With inputs from agencies.)