President Donald Trump is set to announce reciprocal tariffs before Indian Prime Minister Narendra Modi's visit on Thursday, as confirmed by the White House on Wednesday. The president had previously hinted at this action over the weekend.
White House press secretary mentioned that the tariffs are likely to be revealed before Modi's visit and emphasized that Trump strongly believes in this approach. Trump had recently implemented a 10% across-the-board tariff, in addition to tariffs on Chinese goods and higher tariffs on steel and aluminum.
The upcoming reciprocal tariffs are intended to match the existing tariffs on American goods. White House National Economic Council Director mentioned ongoing developments in this regard but did not provide a specific timeline for the implementation of these tariffs.
Similarly, White House trade adviser highlighted the government's efforts to scrutinize and address what they perceive as unfair trade practices. The administration is taking the necessary time to study the situation before making any official announcements.
Overall, the impending reciprocal tariffs are part of Trump's broader strategy to address trade imbalances with various countries. The details of these tariffs are expected to be disclosed before Prime Minister Modi's visit, underscoring the administration's commitment to pursuing a more balanced trade relationship.
