Trump has promised to unveil a massive tariff plan on Wednesday, which he has dubbed “Liberation Day.” He has already imposed tariffs on aluminum, steel and autos, along with increased tariffs on all goods from China.
Trump sees tariffs as a way of protecting the domestic economy from unfair global competition and a bargaining chip for better terms for the U.S.
Trump has said he will impose a suite of reciprocal tariffs against nations that charge fees on U.S. exports, promising to match those countries' duties.
Last week, he suggested he might scale back his reciprocal plans, perhaps imposing tariffs in some cases at lower rates than countries charge the United States.
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