U.S. President Donald Trump seems to be on, as he indicators government orders within the Oval Workplace of the White Home in Washington, U.S., Feb. 10, 2025.
Kevin Lamarque | Reuters
President Donald Trump might announce his reciprocal tariff plan earlier than he meets with Indian Prime Minister Narendra Modi on Thursday, the White Home stated Wednesday.
“I do imagine it should come earlier than the prime minister’s go to tomorrow,” press secretary Karoline Leavitt advised reporters on the White Home when requested about Trump’s forthcoming announcement.
She added, “I’ll let the president focus on the main points on the reciprocal tariff entrance, however that is one thing he believes strongly in.”
Trump stated Sunday that he deliberate to slap reciprocal tariffs on “each nation” that imposes import duties on the U.S.
“Very merely it is in the event that they cost us, we cost them,” he stated on Air Power One, NBC Information reported.
Home Speaker Mike Johnson, R-La., stated Wednesday that he believes Trump is contemplating exemptions from his reciprocal tariffs for the pharmaceutical and auto industries, Reuters reported.
The apparently imminent transfer would underscore the extent to which Trump is making tariffs a core element of his financial agenda.
In his first month in workplace, Trump imposed broad import duties on China, Canada and Mexico. He paused the tariffs on the 2 U.S. neighbors for 30 days after they struck agreements on policing unlawful crossings and drug trafficking at their respective borders.
On Monday, Trump signed an order to impose 25% tariffs on metal and aluminum imports.
Reuters, citing authorities officers, reported Monday that Modi is making ready to chop its tariffs in a number of sectors forward of his assembly with Trump, as India seeks to keep away from a possible commerce struggle with the U.S.
Modi is ready to satisfy with a number of Trump administration officers throughout his journey to Washington, D.C., together with Elon Musk, who leads Trump’s so-called Division of Authorities Effectivity.
Modi’s dialogue with Musk is predicted to focus partially on Musk’s personal enterprise ventures, together with the enlargement of Starlink and Tesla in India, a authorities official advised CNBC.