Trump announces reciprocal tariffs as EU prepares countermeasures

President Trump announced plans for reciprocal tariffs, which will take effect in several weeks, allowing countries time to negotiate. This move aims to address non-trade barriers and includes considerations for value-added taxes imposed by some countries. The European Union is preparing counter-tariffs in response to Trump's planned increases on steel and aluminum. The EU's new 'Anti-Coercion Instrument' could also be used to respond to perceived coercive trade practices. The announcement follows Trump's recent communication with President Putin, signaling a shift in U.S. foreign policy focus. European leaders are reportedly concerned about these developments and their potential impact on trade and defense.