In a move termed as trade tsunami, set to upend international trade dynamics, President Donald Trump has declared an aggressive plan to impose reciprocal tariffs on India and other nations he accuses of exploiting the United States with exorbitant duties.

If the US genuinely tries to close its overall deficit with big tariffs all round, it will cause a crunching recession. If Trump discriminates between trading partners, the heavily tariffed ones can nip through the side door of those who escaped more lightly.

President Donald Trump’s shift in policy to reciprocal tariffs is a relief to markets, U.S. consumers and most trading partners.

WASHINGTON—President Trump on Thursday is expected to outline reciprocal tariffs on nations that have imposed levies on U.S. exports, the White House said, using executive action to bring to life a far-reaching proposal from his first term that never came to fruition.

US President Donald Trump’s tariffs on aluminum and steel are motivated mostly by concerns that China is flooding the global market and harming US manufacturing, said a former trade adviser to the White House.

US President Donald Trump has enacted a new 25% tariff on steel and aluminum imports, a move affecting all countries worldwide. This major shift in policy is expected to have a particularly harsh impact on Canada, eliciting sharp critiques from Canadian leaders.