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Business - Trump announces sweeping reciprocal tariffs on trading partners

  • President Donald Trump announced new "reciprocal" tariffs to match tariffs imposed by other countries on U.S. Goods, according to the presidential memo signed on Thursday.
  • Trump's administration is focused on fairer trade relationships and described India as a "tariff king."
  • Economists warn that American consumers might face higher prices due to these tariffs, despite Trump's belief that jobs will increase as a result of the policy.
  • Trump stated that companies could avoid these tariffs by manufacturing products in the U.S., highlighting a potential short-term rise in prices.
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The State broke the news in on Thursday, February 13, 2025.
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