Trump to announce reciprocal tariffs aimed at matching foreign import duties

U.S. President Donald Trump plans to announce "reciprocal tariffs" on Thursday, aiming to match U.S. import tariffs with those imposed by other countries. This move is part of ongoing trade tensions and could impact countries like India and Thailand. Trump's announcement comes before a meeting with Indian Prime Minister Narendra Modi, who has offered some tariff concessions. Analysts warn that these reciprocal tariffs may lead to higher costs for consumers and could increase inflation. The proposed tariffs are intended to ensure fair treatment for U.S. exports and address trade imbalances. The effectiveness and potential impact of these tariffs remain uncertain, as they could differ from previously suggested universal tariffs.