Trump plans reciprocal tariffs as Treasury chief emphasizes trade diplomacy

President Donald Trump announced plans for reciprocal tariffs, which would match tariffs imposed by other countries on U.S. goods. Treasury Secretary Scott Bessent stated that these tariffs are not guaranteed to take effect this spring. Bessent is leading a study on these tariffs, set to conclude by April 1. He aims to create a "reciprocal index" to analyze tariffs and trade barriers affecting U.S. goods. Economists predict that the average U.S. tariff rate could rise significantly, potentially increasing inflation. The exact rates and timing for the new tariffs remain unclear.