Trump unveils new tariffs to match foreign trade barriers ahead of Modi meeting
wcvb.com —
President Donald Trump announced new "reciprocal" tariffs to match tariffs imposed by other countries on U.S. goods. He signed a memo directing his team to develop this plan, following recent expansions of tariffs on steel and aluminum. Trump stated that companies could avoid these tariffs by manufacturing in the U.S. However, economists caution that consumers may face higher prices as a result. Trump acknowledged this concern but emphasized potential job growth. The announcement comes as Trump prepares to meet with Indian Prime Minister Modi, whom he has criticized for high tariffs. The administration aims to establish fairer trade relationships.