Trump to announce reciprocal tariffs on U.S. imports on Thursday

President Donald Trump announced plans to implement reciprocal tariffs on U.S. imports, matching the tax rates of other countries. He will hold a news conference in the Oval Office to discuss these tariffs further. The new tariffs could impact trade relations, particularly with China, Canada, and Mexico. Trump has already imposed 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 they may lead to higher consumer prices and inflation, potentially affecting economic growth.