Trump Told GOP Lawmakers He Plans to Announce Reciprocal Tariffs as Early as Friday
Reuters02-08 00:08
(Reuters) - President Donald Trump told Republican lawmakers that he plans to announce reciprocal tariffs as early as Friday, two sources familiar with the plans told Reuters.
On the campaign trail, Trump promised to impose reciprocal tariffs on American imports equal to the rates that trading partners impose on American exports.
The White House did not immediately respond to requests for comment.
Stock indexes extended losses after the news. Nasdaq was down 1%; S&P 500 fell 0.66%.
Big techs also slid. Amazon fell 4%; Alphabet fell over 3%; Apple fell 1.77%; Tesla, Microsoft fell over 1%.
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