Trump Will Apply Timbali Tariffs Back To Many Countries

JAKARTA - US President Donald Trump said the reciprocal rates he will announce this week will cover all countries, not just small groups consisting of 10 to 15 countries with the largest trade imbalance.

Trump vowed to unveil a grand tariff plan on Wednesday this week, dubbed the "Freedom Day."

The US president has imposed tariffs on aluminum, steel, and cars, along with an increase in tariffs on all goods from China.

"You will start with all countries," he told reporters at Air Force One.

"Basically all the countries we are talking about," he continued.

White House economic adviser Kevin Hassett recently told Fox Business the government's focus on tariffs would be on 10 to 15 countries with the worst trade imbalance, although he did not mention it.

Trump sees tariffs as a way to protect the domestic economy from unfair global competition and as a bargaining chip for better US terms. However, concerns about the trade war are troubling the market and creating fear of a recession in the US.

Trump said he would impose a series of reciprocal rates on countries that charge US exports, and pledged to equalize the rates of these countries.

In February, Trump signed a memorandum directing US trade officials to visit the country for the sake of the country and compile a list of adjusted countermeasures.

Last week, Trump proposed to reduce his reciprocal plans, perhaps charging in some cases lower rates than the state imposed on the United States.