Trump's Reciprocal Tariffs: A Prelude to Global Trade Turmoil?

U.S. President Donald Trump plans to impose reciprocal tariffs on countries that charge import duties on U.S. goods, sparking fears of a global trade war. These tariffs coincide with Indian PM Narendra Modi's visit and could drive U.S. inflation higher. Exemptions are being considered for certain industries.

U.S. President Donald Trump has announced intentions to implement reciprocal tariffs against all nations imposing duties on American imports. This decision, likely to escalate fears of a burgeoning global trade war, is timed with Indian Prime Minister Narendra Modi's White House visit.

Republican House Speaker Mike Johnson mentioned potential exemptions for sectors like automotive and pharmaceuticals, although these remain uncertain. Economists caution that tariffs pose inflation risks. Recently revealed data indicates consumer prices saw January's most significant rise in nearly 18 months.

The EU plans to negotiate to prevent a trade dispute, whispering of possible countermeasures reappearing. As tensions heighten, the impact of additional tariffs on industries and potential diplomatic solutions remain under the spotlight.

(With inputs from agencies.)