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Trump says he will announce reciprocal tariffs on many countries next week

  • President Donald Trump announced he will unveil reciprocal tariffs on various countries next week during a meeting with Japanese Prime Minister Shigeru Ishiba at the White House.
  • The U.S. Had a trade deficit of $68 billion with Japan in 2024, which Trump aims to address with new tariffs.
  • Trump stated that the tariffs would be reciprocal, meaning the U.S. Would charge the same amount other countries charge the U.S.
  • The U.S. Census Bureau reported a total trade deficit of $918.4 billion in 2024, an increase of $133.5 billion from the previous year.
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