US President Donald Trump: I will announce reciprocal tariffs next week on many countries
United States (US) President Donald Trump hit social media hard on Friday, noting through a series of posts that his plans to execute widespread tariffs on most of the US trading allies are back on the table as a means of addressing the US federal deficit. Without any changes to funding sources, the US' budget shortfall is expected to swell under President Trump's stewardship as his proposed tax cuts will cause the federal government's inflows to evaporate.
President Trump also voiced his desire to "end the trade deficit with Japan", which currently stands at $65 billion annually.
Key highlights
Trump signs an order amending duties on de minimis imports from China.
I aim to bring down the deficit.
I want to end the trade deficit with Japan.
We do want to work on the deficit; get it down to even.
I haven't changed my mind on US Steel.
I will make an announcement next week on reciprocal trade.
Tariffs are an option to address deficit.
Tariffs on Japan are an option.
I will announce reciprocal tariffs next week on many countries.
I will discuss the Nippon deal with Ishiba.
Auto tariffs always on the table.
I will be meeting with Xi probably.
I will be talking to Putin.
The US looking for security of rare earths.
No rush on Gaza.
I will probably talk to Zelenskiy next week; I want to discuss security of their assets, like rare earths.
Deepseek is a good development.
Author
Joshua Gibson
FXStreet
Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.
