Trump to announce reciprocal tariffs in two days amid 25% tariff on steel, aluminium

Giving another jolt to the market uncertainties, Trump told reporters at the Oval Office that he intends to introduce tariffs on cars, semiconductor chips and pharmaceuticals.

By: Express Web Desk

Updated: February 11, 2025 07:55 AM IST

Trump said that he would be announcing a “very sophisticated plan" for reciprocal tariffs on other countries in a couple of days. (AP Photo)

US President Donald Trump has said that he would announce reciprocal tariffs on other countries in the next two days, after he imposed 25% tariffs on all steel and aluminum imports into the US, on top of existing metal duties.

The Republican president signed two proclamations on Monday introducing 25% tariffs on metals and ending all exclusions on steel and aluminum tariffs first imposed during his first tenure from 2016-2020.

Giving another jolt to the market uncertainties, Trump told reporters at the Oval Office that he intends to introduce tariffs on cars, semiconductor chips and pharmaceuticals.

The Republican president was asked what if the countries retaliate with measures to impose reciprocal tariffs on US goods, Trump responded saying “I don’t mind.”

During an interview with Fox News, Trump said that other countries had imposed duties on imports from the United States for years.

Also Read | After Canada, Mexico and China, Trump threats of reciprocal tariffs to other countries

According to a US official, the exclusions which were initiated under Trump’s first tenure went out of control during former President Joe Biden’s term, and therefore it resulted in exclusion of hundreds of thousands of specific products.

“It’s not fair that other countries have taken advantage of us for so many years, and now all of a sudden, we’re not allowed to have tariffs,” Trump said, as quoted by Reuters.

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Trump said that he would be announcing a “very sophisticated plan” for reciprocal tariffs on other countries in a couple of days. The Republican president added “And very simply, it’s, if they charge us, we charge them.”

Though Australia might have escaped the 25% tariffs on aluminium and steel as Trump agreed to consider exempting Australia from the tariffs, following a phone call with Prime Minister Anthony Albanese.

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