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[Breaking] Trump: 'Today is an Important Day', Announces Reciprocal Tariffs Coming on the 13th
Summary
- U.S. President Donald Trump announced he will declare reciprocal tariffs on the 13th.
- Reciprocal tariffs mean imposing the same tariff rates on foreign goods as those countries apply to U.S. products.
- President Trump is pursuing trade imbalance resolution through high tariffs while intensifying the trade war.
On the 13th (local time), U.S. President Donald Trump announced upcoming reciprocal tariffs on various countries.
President Trump stated through his social media platform Truth Social, 'It's been a fantastic three weeks, perhaps the best ever. But today is an important day. Reciprocal Tariffs!! Make America Great Again!!'
Reciprocal tariffs mean that the U.S. will impose tariffs on products from other countries at the same rate those countries apply to U.S. goods.
White House spokesperson Caroline Levitt had previously stated during a press briefing that the reciprocal tariff announcement would come 'before Indian Prime Minister Narendra Modi's White House visit on the 13th.'
Since taking office last month, President Trump has intensified the trade war, pressuring trading partners with high tariffs to address trade imbalances.
Following the 10% additional tariff imposed on China on the 4th, he decided to implement a 25% tariff without exception on all imported steel and aluminum starting from the 12th of next month.
Lee Bobae, Hankyung.com Contributing Writer newsinfo@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
