
President Donald Trump is preparing to introduce reciprocal tariffs this week — a major change in trade policy that could have far-reaching consequences for domestic inflation rates as well as global commerce. The idea is straightforward: if another country imposes a tariff on American products, the US will respond by applying the same tariff to that country’s goods. This strategy is intended to create a fairer trade environment but could also escalate tensions and potentially trigger a new tariff war, experts warn. The European Union currently places a 10% tariff...