Trump set to announce ‘reciprocal tariffs’ tonight, ahead of meeting with PM Modi

The announcement, which comes just hours before Trump meets Prime Minister Narendra Modi in Washington, DC, however, did not reveal the details of his latest tariff plan or who it is directed against.

Earlier, in a characteristically self-congratulatory post, Trump wrote, “THREE GREAT WEEKS, PERHAPS THE BEST EVER, BUT TODAY IS THE BIG ONE: RECIPROCAL TARIFFS!!! MAKE AMERICA GREAT AGAIN!!!”

The announcement echoed his Wednesday pledge to impose new trade orders, potentially escalating tensions with allies and other nations.

Modi Lands in the US: On cards – Tariffs, Immigration

Fresh off the plane, PM Modi arrived in the US for his first bilateral meeting with Trump since his re-election, bringing a hardline nationalist agenda focused on immigration and manufacturing.

On immigration, the US deported 104 Indians who entered illegally, sparking outrage in India due to their treatment. On trade, Trump imposed a 25 per cent tariff on steel and aluminum, triggering a 1,000+ point crash in Indian markets. Though India is not a major steel supplier to the US, its aluminum industry—where the US is a key export market—faces potential losses.

Before his visit, Modi highlighted past collaboration with Trump and expressed hope for strengthening ties in technology, trade, and defense.

Trump’s ‘reciprocal tariffs’ plan

“Eye for an eye”—but make it economics. That’s how Trump is pitching his ‘reciprocal tariffs’ plan, a tit-for-tat response to countries slapping import duties on American goods. “The only fair way to trade,” he insists.

Since beginning his second term on January 20, Trump has imposed tariffs on multiple countries, including China, sparking fears of a global trade war and causing market disruptions in nations like India.

Beyond trade tensions, these tariffs have also raised concerns about accelerating inflation in the US.

Trump’s measures include tariffs on all steel and aluminum imports starting March 12, a 10 per cent tariff on Chinese goods, and a temporary 30-day hold on tariffs for Canada and Mexico.

The White House on Wednesday teased the plan’s unveiling before Trump’s big meeting with Modi — Will Trump and Modi cut a deal? Or is this just another episode of ‘Tariff Wars: The Sequel’?

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