 "Trump to announce reciprocal tariffs at White House 12.30 am Thursday India time")
With all eyes on Trump’s reciprocal tariffs, the US President will announce “country-based” levies on Wednesday at an event in the White House’s Rose Garden. US President Donald Trump’s previous declarations on tariffs have had an impact on trade around the world, forcing many countries to brace for impact.
White House Press Secretary Karoline Leavitt on Monday said, “The president will be announcing a tariff plan that will roll back the unfair trade practices that have been ripping off our country for decades. The president will be announcing a tariff plan that will roll back the unfair trade practices that have been ripping off our country for decades.”
Treasury Secretary Scott Bessent has said that the president will make the announcement on Wednesday at 3 pm local time (Thursday 12:30 am IST).
When asked about the reciprocal tariffs, Leavitt chose not to disclose specifics regarding their rates or the countries that would be affected. In response to a query about whether reduced duties would apply to products used by American farmers, she stated that there are “no exemptions at this time.”
‘Reciprocal tariffs for all countries’
Last weekend, Trump said his reciprocal tariffs are expected to hit “all countries”, giving rest to speculations that he might exempt some nations from the levies.
“They’re reciprocal. So whatever they charge us, we charge them, but we’re being nicer than they were. They took advantage of us, and we are going to be very nice by comparison to what they were. The numbers will be lower than what they’ve been charging us, and in some cases may be substantially lower,” he said.
Ahead of Wednesday’s tariff announcement, the president had already imposed levies on the US’s three largest trading partners — Canada, Mexico, and China — along with tariffs on automobiles, steel, and aluminum. Copper import taxes may be introduced within the next few weeks, and Trump has also warned of potential tariffs on pharmaceuticals, semiconductors, and lumber imports.
Impact Shorts
More ShortsHow are countries reacting?
A number of countries have sent warning messages to Trump, saying that they will respond to the tariffs.
Britain is likely to suffer US tariffs despite making “rapid progress” over a trade deal with Washington, Prime Minister Keir Starmer said Tuesday. “We’re working hard on an economic deal, which we’ve made rapid progress on … but look, the likelihood is there will be tariffs,” Starmer told Sky News.
EU chief Ursula von der Leyen has said the bloc still hopes for a “negotiated solution” to US tariffs looming this week, but that “all instruments are on the table” to hit back if necessary.
“We are open to negotiations,” the European Commission chief told a European Parliament session, “but we have a strong plan to retaliate if necessary.”
With inputs from agencies
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