US President Donald Trump to announce reciprocal tariffs ahead of PM Modi visit

Ed Husicscience Minister

The world has a high demand for our aluminum; we need it as part of the transition to net zero,

Ed Husic told reporters at the National Press Club in Canberra

Tariffs can still be used as a bargaining tool to get some concessions from other countries, but the political optics of putting even a little upward pressure on consumer prices via tariffs wouldn't be great for the Trump administration,

Ryan Sweet, Chief U.S. Economist at Oxford Economics, wrote after the release

But I'm not certain. You have to wait, ask the White House about that,

he said

Dominic LeBlancfinance Minister

We have a number of weeks to work together, and President Trump's words were very precise to structure an economic deal with Canada,

said LeBlanc, who is meeting US policymakers including National Economic Council director Kevin Hassett and Commerce Secretary nominee Howard Lutnick

An eye for an eye, a tariff for a tariff, same exact amount."

During election campaigning, Trump had promised

Unjustified tariffs on the EU will not go unanswered — they will trigger firm and proportionate countermeasures.”

European Union chief Ursula von der Leyen also said

Any steel coming into the United States is going to have a 25 per cent tariff,

Trump told reporters and added

I do believe it will come before the prime minister's visit tomorrow,

press secretary Karoline Leavitt told reporters at the White House when asked about Trump's forthcoming announcement

Very simply it's if they charge us, we charge them,

he said on Air Force One, NBC News reported

I will let the president discuss the details on the reciprocal tariff front, but this is something he believes strongly in."

She added

There is no finding other than that discrimination exists, and you could find it probably in 30 seconds looking at the competing tariff schedules,

Cannistra said

I think that is exactly the path that they're going to follow,

Dan Cannistra, a partner in the Crowell & Moring law firm, said of Section 338

It would be an earthquake in Geneva to announce US intentions to move away from unconditional MFN and negotiate our tariff schedules on a bilateral basis,

said Veroneau, a former deputy US trade representative during the George W Bush administration and a partner in the Covington & Burling law firm

I think the White House does have a few categories that would be treated differently, and I expect those two would be among them,

Johnson said

It’s time to be reciprocal,

Trump told reporters earlier this week

Of course, even if President Trump views reciprocal tariffs as an alternative to more sweeping measures at the moment, we are entering only the fourth week of a four-year presidential term and it seems likely there will be many further tariff announcements,

the investment bank's analysts wrote

We'll see what happens.”

But when Tuesday passed without the tariffs being officially announced, Trump was asked if he would sign the order on Wednesday and Trump answered

I don't mind."

Asked about the possibility of other countries retaliating against U.S. tariffs, Trump said