The Trump administration has proposed a sweeping trade strategy, including 25% tariffs on Canada and Mexico, 10% on Chinese imports, and 10% on Canadian energy. While the Canada and Mexico tariffs have been temporarily delayed, the administration is now exploring reciprocal tariffs on additional trading partners.
Yahoo Finance Washington Correspondent Ben Werschkul analyzes the implications of this potential tit-for-tat tariff approach.
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Despite delaying tariffs on Mexico and Canada, President Trump is ready to announce reciprocal tariffs on many countries. Washington correspondent Ben Worshkoll joins us now with more. Trump making his latest comments today about more tariffs, Ben. What can you tell us?
Yeah, so this is the latest, the latest from Trump, and it's a, it's a sort of multifaceted approach to trade at this point. What, what he announced today is that next week, probably Monday or Tuesday, he's going to have meetings and, and then make an announcement, probably in a press conference, about reciprocal tariffs. This is something Trump has long talked about, basically a kind of literal tit-for-tat tariffs, um, where if a, if a country, if a foreign country has duties at a certain level, the US imposes the same duties. He's talked about doing it unilaterally. He's also talked about having Congress even get involved in making this perhaps even more automatic. Um, but I think the big question for the moment is sort of how this fits in with everything else. This comes also after a week, obviously, where 10% blanket duties came in on China. We also had the US trade representative on Capitol Hill outlining plans to at least study a universal, universal tariff on everyone. And then there's a 30 month, um, a 30, 30 day delay on tariffs on Canada and Mexico, um, which, which according to Trump are still very much alive. So it's all kind of in this mix and we'll have a little more clarity on Monday, exactly how reciprocal fits into everything else.
Yes, and we'll probably get a drip of stuff over the weekend as well, Ben. Fun times. Thank you so much for the details. Appreciate it.
Thanks a lot.
