U.S. President Donald Trump looks on, as he signs executive orders in the Oval Office of the White House in Washington, U.S., Feb. 10, 2025.
Kevin Lamarque | Reuters
President Donald Trump could announce his reciprocal tariff plan before he meets with Indian Prime Minister Narendra Modi on Thursday, the White House said Wednesday.
“I do believe it will come before the prime minister’s visit tomorrow,” press secretary Karoline Leavitt told reporters at the White House when asked about Trump’s forthcoming announcement.
She added, “I will let the president discuss the details on the reciprocal tariff front, but this is something he believes strongly in.”
Trump said Sunday that he planned to slap reciprocal tariffs on “every country” that imposes import duties on the U.S.
“Very simply it’s if they charge us, we charge them,” he said on Air Force One, NBC News reported.
House Speaker Mike Johnson, R-La., said Wednesday that he believes Trump is considering exemptions from his reciprocal tariffs for the pharmaceutical and auto industries, Reuters reported.
The apparently imminent move would underscore the extent to which Trump is making tariffs a core component of his economic agenda.
In his first month in office, Trump imposed broad import duties on China, Canada and Mexico. He paused the tariffs on the two U.S. neighbors for 30 days after they struck agreements on policing illegal crossings and drug trafficking at their respective borders.
On Monday, Trump signed an order to impose 25% tariffs on steel and aluminum imports.
Reuters, citing government officials, reported Monday that Modi is preparing to cut its tariffs in multiple sectors ahead of his meeting with Trump, as India seeks to avoid a potential trade war with the U.S.
Modi is set to meet with multiple Trump administration officials during his trip to Washington, D.C., including Elon Musk, who leads Trump’s so-called Department of Government Efficiency.
Modi’s discussion with Musk is expected to focus in part on Musk’s private business ventures, including the expansion of Starlink and Tesla in India, a government official told CNBC.