Trump to announce reciprocal tariffs today as fears of trade war mount

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WASHINGTON: US President Donald Trump’s administration will announce mutual rates on every country, which receives duties on US imports until Thursday, the White House said, a move that removes concerns to expand the global trade war. Give and US inflation will be at risk of accelerating.

White House spokesman Crolley Lavit said at a briefing on Wednesday that the latest round of Trump’s market riots would be announced before Indian Prime Minister Narendra Modi’s visit.

Trump said on Monday that he would announce mutual rates in the next two days, and he was also looking at separate taxes on cars, semidicators and pharmaceuticals.

Republican US House of Representatives Speaker Mike Johnson told Reuters on Wednesday that he believes Trump is considering exemptions that will include automotive and pharmaceutical industries among others.

“But I’m not sure. You have to wait, ask the White House about it, “he said. The White House did not immediately respond to a request to comment.

Economists see large -scale prices offering a greater threat than inflation, and there are signs that American inflation is warming. According to data from the Bureau of Labor Statistics released on Wednesday, consumer prices have increased the highest in about 1-1/2 years.

On Monday, the President announced the markets on Monday, announcing taxes on all steel and aluminum imports, which began on March 12. These projects condemned the Mexico, Canada and the European Union, while Japan and Australia said they wanted to exempt duties.

The news sent that industries have relied on imports of steel and aluminum that are entering to meet the expected jumps.

Through the video conference on Wednesday, EU ministers of 27 countries met with trade ministers to discuss their response. The European Union has preferred talks about retaliation in an attempt to avoid a harmful trade war, comments from officials after the meeting.

A European Union official said the ministers discussed a possible response, in 2018, in 2018, in response to the first Trump administration’s revenue on steel and aluminum products on products containing Bourbon and Harley Davidson Hogg Dot D. Motorcycles. Including restoration.

These measures were suspended after an agreement with the Biden administration.

Last week, Trump imposed an additional 10 % tariff on Chinese goods on February 4, with Chinese counter -measures imposed this week.

They delayed 25 % tariffs on goods from Mexico and Canada by March 4 to allow negotiations to secure US borders and prevent drug phenothenary flow.

Meanwhile, the Minister of the Australian Minister of Industry said that the country’s plan to promote “green” aluminum exports will not be removed from the threat of US prices.

“Our aluminum in the world is more demanding. We need it as part of a pure zero transfer, “Ed Hosh told reporters at the National Press Club in Canberra.” The question is, for our American friends, did you really have for this product Want to pay for the maximum price you have received a huge demand? “

Canadian Prime Minister Justin Trudeau, speaking to reporters in Brussels, said some Americans would lose their jobs and that if the United States imposes taxes on Canadian steel and aluminum imports, US growth will face.

Sources told Reuters that a group of Canadian provincial leaders is expected to meet with Trump at the White House on Wednesday.

Center for Strategic and International Senior Fellow William Ranes said Trump’s officials can choose more easily applied flat 10 % or 20 % tariff rate, or a dirt approach for which US revenue from another country rates Separate tariffs will be required. Studies