Trump prepares global tariff plan

US President Donald Trump’s administration is set to introduce a new tariff package that would impose equal-value tariffs on countries that levy trade taxes on US imports.

Trump said in press statements this week that tariffs on steel and aluminum imports were imminent, stressing that the time for reciprocity had arrived—if a country imposes tariffs on the US, Washington will respond in kind.

He added that he might issue an executive order on the matter by Tuesday or Wednesday. When no decision was announced yesterday, Trump was asked if he would take action today, to which he replied, “We’ll see what happens,” according to the Associated Press (AP).

Less than a month into his tenure, Trump has made bold moves to enforce his protectionist trade agenda, starting with the imposition of sweeping tariffs on both Canada and Mexico.

But he quickly suspended the decision for 30 days after reaching an agreement with both countries to intensify border security efforts to combat drug smuggling and the flow of illegal immigrants into the US.

Trump then imposed a 10% tariff on Chinese imports, citing their role in fueling drug flow into the US. In response, Beijing retaliated with tariffs of up to 15% on certain American imports.

This week, Trump announced a 25% tariff on steel and aluminum imports from all countries, a move that threatens to disrupt global economic activity. The decision sparked outrage from several nations, including the European Union, which warned it would not go unanswered.