Here's What Trump's Reciprocal Tariffs Will Look Like, And Who Are The Biggest Losers

Two days ago, Trump's 25% steel and aluminum tariffs targeting everyone - but mostly Canada - went into effect (our full analysis here), and according to media reports, the next iteration of Trump's trade war - reciprocal tariffs - could be announced in just a few hours.

NEW: Trump is expected to announce his reciprocal tariff plan before Modi visits tomorrow, per @PressSec.

— Josh Wingrove (@josh_wingrove) February 12, 2025

According to Reuters, Trump could impose reciprocal tariffs as soon as Wednesday evening on every country that charges duties on U.S. imports, in a move that ratchets up fears of a widening global trade war and which, some claim, could accelerate inflation.