<h1>Trump Plans Reciprocal Tariffs to Match Foreign Import Taxes; Economists Warn of Inflation, Trade War Risks</h1> President Donald Trump announced plans to implement reciprocal tariffs on U.S. trading partners, matching the tax rates these countries impose on U.S. imports. This move could potentially trigger a global economic impact, raising inflation and risking a trade war as countries like China, Canada, and the European Union prepare retaliatory measures. Trump argues that these tariffs will create domestic jobs, though economists warn they may increase costs for U.S. consumers. The announcement comes amid ongoing tensions with trading partners and follows the removal of exemptions on previous steel and aluminum tariffs. The potential for increased inflation remains a significant concern.