President Donald Trump announced that his upcoming tariff plan will apply to all nations, not just the 10-15 countries with the largest trade imbalances. Set to unveil the plan on Wednesday, dubbed "Liberation Day," Trump intends to impose reciprocal tariffs, matching duties from countries that charge fees on U.S. exports.
This follows previous tariffs on aluminum, steel, and autos, along with increased duties on Chinese goods. While White House adviser Kevin Hassett initially suggested focusing on the worst offenders, Trump clarified that all nations would be included. Although the move aims to protect the U.S. economy, concerns about a trade war and potential recession are growing. Trump has also hinted at possibly scaling back the tariffs or applying them at lower rates than those charged by other countries.
