Trump plans to increase US tariffs to match foreign import taxes

President Trump announced plans to increase U.S. tariffs to match those imposed by other countries on imports. He made the announcement on his social media platform and scheduled a news conference for further details. The proposed tariffs could affect trade relations, particularly with China, Canada, and Mexico. Trump has already implemented a 10% tariff on Chinese imports and is considering additional tariffs on various goods. The White House argues that these tariffs will create fairer trade and increase government revenue. However, economists warn that they may lead to higher consumer prices and inflation, impacting economic growth.