President Donald Trump is expected to announce a new round of sweeping reciprocal tariffs on Thursday, matching higher rates other nations charge to import American goods.

President Donald Trump said he will announce his most sweeping economic measure yet Thursday, reciprocal tariffs that Trump argues would level the playing field for the U.S. in global trade and would instantly become the hallmark economic policy of his nascent second term, though economists project they would increase inflation this year.

U.S. President Donald Trump said he plans to unveil reciprocal tariffs on Thursday afternoon but gave no details about his latest tariff plan, which could take aim at every country that charges duties on U.