Trump Signs Plan For Reciprocal Tariffs

WASHINGTON (AP) — President Donald Trump has rolled out his plan to increase U.S. tariffs to match the tax rates that other countries charge on imports. The Republican is possibly triggering a broader economic confrontation with allies and rivals alike as he hopes to eliminate any trade imbalances. Trump said Thursday: “I’ve decided for purposes of fairness that I will charge a reciprocal tariff.’ The prospect of a dramatic hike on tariffs could send shockwaves through the world economy, possibly depressing growth while also causing inflation to intensify. Most economists say the tariffs would effectively be a tax increase on U.S. consumers. Trump says he’s decided “for purposes of fairness” he’ll charge reciprocal tariffs.