U.S. President Donald Trump announced on Sunday that his upcoming reciprocal tariffs will apply to all nations, rather than just targeting the 10 to 15 countries with the largest trade imbalances. Trump plans to unveil the tariff package on Wednesday, calling it “Liberation Day.”
“You'd start with all countries,” Trump told reporters aboard Air Force One. “Essentially all of the countries that we're talking about.”
The announcement contradicts recent statements from White House economics adviser Kevin Hassett, who indicated the administration's focus would be on countries with the worst trade imbalances. However, Hassett did not specify which nations would be targeted.
Trump has already imposed tariffs on aluminum, steel, and automobiles, along with increased duties on all goods from China. His approach views tariffs as both protection for the domestic economy and a bargaining tool for securing better trade terms for the United States.
Concerns are growing about the potential for a global trade war, with markets reacting nervously to the prospect of widespread tariffs. Economists fear that heightened trade tensions could lead to a recession in the U.S.
In February, Trump signed a memorandum directing U.S. trade officials to compile a list of tailored counter-measures against countries imposing fees on U.S. exports. Despite hinting last week at the possibility of scaling back his plans, Trump now appears committed to broad, sweeping tariffs aimed at achieving what he calls “fair trade.”
Further details about the tariff plan are expected to be revealed during Trump’s announcement on Wednesday.
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Russia’s health watchdog said on Friday it is monitoring an anthrax outbreak in Kazakhstan’s Akmola region, where two villages were quarantined after infections in cattle and local residents.
Belarus will play an active part in next month’s United Nations conference for landlocked developing countries in Turkmenistan, Foreign Minister Maksim Ryzhenkov told his Turkmen counterpart Rashid Meredov during a telephone call on Thursday.
Thirty PKK members, half of them women, publicly destroyed their guns on Friday in Iraq’s Sulaymaniyah province, the clearest sign yet that the outlawed group is moving to dismantle its four-decade armed campaign.
Germany and the UK will sign a new 'friendship treaty' next week to deepen cooperation on foreign policy, security, and economic ties amid global challenges.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
Archaeologists have uncovered a 3,500-year-old city in northern Peru that likely served as a key trade hub connecting ancient coastal, Andean, and Amazonian cultures.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
On July 4, Azerbaijani President Ilham Aliyev met with Turkish President Recep Tayyip Erdoğan in Khankendi, reaffirming the deep-rooted alliance between the two nations.
France recorded over 100 drowning deaths in just one month — a 58% rise from last year — as unusually high temperatures drove more people to water, public health officials say.
Germany’s public debt is projected to climb from 62.5% to 74% of GDP by 2030, driven by record defence and infrastructure spending, according to a report by the European rating agency Scope.
Migration offset natural decline for the fourth consecutive year, pushing the European Union’s population to an historic high of 450.4 million in 2024, according to Eurostat figures released on Friday.
The global oil market may be tighter than headline supply-demand figures suggest, the International Energy Agency (IEA) said Friday, citing rising refinery activity and seasonal summer demand as key drivers of short-term market pressure.
China’s exports are expected to have grown 5% in June as manufacturers hurried goods abroad ahead of a 12 August deadline that could see the U.S. restore punitive tariffs, a Reuters survey of economists indicates.
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