Trump to Announce Reciprocal Tariffs on Many Countries Next Week

By Jarrett Renshaw and David Morgan

WASHINGTON, Feb 7 (Reuters) – President Donald Trump said on Friday he plans to announce reciprocal tariffs on many countries next week, a major escalation of his trade war.

Trump did not identify which countries would be hit but suggested it would be a broad effort that could also help solve U.S. budget problems. 

“I’ll be announcing that, next week, reciprocal trade, so that we’re treated evenly with other countries,” Trump said. “We don’t want any more, any less.”

The move would fulfill Trump’s campaign promise to impose tariffs on American imports equal to rates that trading partners impose on American exports. 

Trump made the announcement during a meeting with visiting Japanese Prime Minister Shigeru Ishiba. He said autotariffs remained on the table amid reports that the White House was weighing potential exemptions….