Trump announces reciprocal tariffs affecting all US trading partners

President Donald Trump announced reciprocal tariffs on all US trading partners, set to take effect "almost immediately." This decision aims to match tariffs imposed by other countries, particularly targeting nations like India and Thailand, which have higher average tariffs on US goods. Reciprocal tariffs are taxes on imports that equal the tariffs foreign countries charge on US products. Analysts suggest this could raise the US average tariff rate by about two percentage points, impacting American consumers and businesses significantly. The move may lead to retaliatory tariffs from affected countries, creating uncertainty in global markets. The administration's approach could also address non-tariff issues, complicating trade relations further.