Trump announces plan for reciprocal tariffs on countries with U.S. import duties

U.S. President Donald Trump announced a plan for reciprocal tariffs on countries that impose duties on U.S. imports. This initiative aims to strengthen economic and national security by matching higher tariffs from other nations. The tariffs are not yet in effect but could start soon as the administration reviews trade relationships. The focus will be on countries with significant trade surpluses and high tariffs, including China, Japan, South Korea, and the European Union. Trump's approach seeks to address both tariff and non-tariff barriers. The administration is open to negotiations to lower tariffs if other countries do the same. However, implementing these tariffs poses significant challenges due to varying duty rates across nations.