Trump gloats while announcing launch of reciprocal import tariffs

In a bold announcement through his personal social media platform "Truth Social", US President Trump revealed that his administration was to unveil a string of reciprocal tariffs in the upcoming hours. 

"THREE GREAT WEEKS, PERHAPS THE BEST EVER, BUT TODAY IS THE BIG ONE: RECIPROCAL TARIFFS!!! MAKE AMERICA GREAT AGAIN!!!" his statement posted on February 13 read, Caliber.Az reports.

Since taking office on January 20, Trump's administration has already imposed import tariffs on several countries, most notably China, Canada and Mexico. His latest announcement relates to a new chapter in the administration's economic policy by matching existing tariffs that exist for US products by other countries. 

Indian Prime Minister Narendra Modi is currently on a two-day visit to Washington, whose country has higher tariff rates on the import of US products than vice versa. Experts believe that those countries will be most affected now while countries that have favourable trade agreements with the US, such as South Korea, will be less vulnerable. 

By Nazrin Sadigova