Trump's New Trade Tactics: Reciprocal Tariff Ambitions

U.S. President Donald Trump has directed his economic team to devise reciprocal tariffs on nations taxing U.S. imports. This move could ignite a global trade war. The plan targets countries with higher tariffs, aiming to reduce trade imbalances, with detailed studies expected by April. Stakes are high for global markets.

In a bold move, U.S. President Donald Trump has instructed his economic advisors to formulate plans for reciprocal tariffs on countries imposing taxes on American imports, raising fears of a global trade war.

The President's policy, aimed at achieving fairness, intends to impose equivalent tariffs on countries that tax U.S. imports, targeting significant trading partners like China, Japan, the EU, and South Korea. Trump has set a deadline for further assessments by April 1, which could lead to significant international economic ramifications.

Concerns over the potential economic impact on Wall Street have been noted, as analysts predict possible rises in inflation and slowed growth. While the administration seeks to initiate discussions with other nations, Trump's strategy places countries with large trade surpluses in the crosshairs, with hopes of negotiating reduced global trade barriers.

(With inputs from agencies.)