Trump directs team to develop reciprocal tariffs plan for countries taxing US imports

U.S. President Donald Trump has instructed his economic team to create plans for reciprocal tariffs on countries that impose taxes on U.S. imports. This move could lead to a global trade war, as it aims to match tariffs imposed by other nations. Trump's directive does not immediately impose new tariffs but initiates investigations into existing tariffs and non-tariff barriers. The administration will focus on countries with significant trade surpluses and high tariffs, including China, Japan, South Korea, and the European Union. During a recent meeting with Indian Prime Minister Narendra Modi, Trump discussed potential tariff reductions and trade agreements. The administration is open to negotiations, indicating that tariffs could be lowered if other countries do the same.