Trump announces new tariffs to boost U.S. job growth and industry relocation

President Donald Trump announced new tariffs aimed at foreign trading partners, stating that this will encourage industries to relocate to the U.S. to avoid these fees. He believes this will lead to a significant increase in American jobs. Trump's plan includes "reciprocal" tariffs, meaning the U.S. will match any tariffs imposed by other countries. He has tasked Howard Lutnick, his nominee for commerce secretary, with producing a report on trade relations within 180 days. Previously, Trump had already imposed tariffs on imports from Canada, Mexico, and China. While Canada and Mexico agreed to border security concessions, China responded with its own tariffs on U.S. goods.