Trump's Tariff Tango: A New Chapter in Trade Wars

President Trump plans to impose reciprocal tariffs on various countries, emphasizing his stance on fair trade. He aims to increase duties to 25% on steel and aluminum, with further tariffs on cars, semiconductor chips, and pharmaceuticals. Trump dismisses concerns over potential retaliation by other nations.

President Donald Trump announced plans to impose reciprocal tariffs on other countries within two days, reinforcing his trade policy stance. The announcement came during a signing ceremony in the Oval Office, where Trump ended all exclusions to steel and aluminum tariffs and raised duties to 25%.

The President highlighted plans to target cars, semiconductor chips, and pharmaceuticals with tariffs. A U.S. official noted that product exclusions had multiplied under former President Biden, spiraling out of control.

Despite potential retaliation from other countries, Trump remained unfazed, asserting that it's time for the U.S. to balance the trade scales. He plans to reveal a 'sophisticated plan' for these tariffs soon.

(With inputs from agencies.)