Trump to announce new reciprocal tariffs on imports in Oval Office news conference

President Donald Trump plans to announce new tariffs on imports to match rates charged by other countries. He will hold a news conference in the Oval Office on Thursday to discuss these "reciprocal tariffs." Trump has recently increased tariffs on Chinese imports and is preparing tariffs on Canada and Mexico. He has also removed exemptions from previous steel and aluminum tariffs and is considering new tariffs on computer chips and pharmaceuticals. The White House argues that these tariffs will create fairer trade and raise government revenue. However, critics warn that they could lead to higher inflation and economic challenges for consumers.