Trump announces plan for reciprocal tariffs on trading partners

President Donald Trump has announced a plan for reciprocal tariffs on countries that impose duties on U.S. imports. The tariffs could start within weeks as his team reviews trade relationships. Commerce Secretary Howard Lutnick stated that the administration will address each affected country individually, focusing on those with significant trade surpluses and high tariffs. The announcement raises concerns about a potential global trade war and its impact on U.S. inflation. Trump has already implemented tariffs on steel and aluminum imports and is considering additional tariffs on cars and pharmaceuticals.