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Trump says he will announce reciprocal tariffs next week

According to Bloomberg, Trump announced that he would introduce reciprocal tariffs next week to deal with unfair tariffs imposed by other countries on U.S. goods, but it was not clear which countries would be affected. He criticized the EU’s excessive value-added tax and repeatedly used tariffs as a bargaining chip with other countries on issues such as immigration and drug smuggling. Previously, he had imposed a 10% tariff on China and suspended 25% tariffs on Canada and Mexico. At the same time, Trump continued to oppose Japan Steel’s acquisition of U.S. steel during a meeting with visiting Japanese Prime Minister Shigeru Ishiba.

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