Trump to announce reciprocal tariffs on U.S. trading partners on February 14
The Hindu
President Trump plans to increase U.S. tariffs to match other countries, potentially sparking a global trade war and inflation.
President Donald Trump said Thursday (February 13, 2025) that he'll sign an order that increases U.S. tariffs to the rates other countries charge on imports.
“TODAY IS THE BIG ONE: RECIPROCAL TARIFFS!!!” Mr. Trump posted on his social media site, Truth Social. “MAKE AMERICA GREAT AGAIN!!!”
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The prospect of a dramatic hike in tariffs could send shockwaves through the world economy, possibly depressing growth while also causing inflation to intensify.
Mr. Trump has maintained that such tariffs will help to create domestic factory jobs, but most economists say there would effectively be a tax increase on U.S. consumers that would add to inflationary pressures.
The Republican president has openly antagonised multiple U.S. trading partners over the past several weeks, levying tariff threats and inviting them to retaliate with import taxes of their own that could send the economy hurtling into a trade war.
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