President Donald Trump has revealed that his upcoming “reciprocal tariffs” plan will target all countries, adding to the uncertainty surrounding the much-anticipated trade policy set to be unveiled on Wednesday.
Speaking to reporters aboard Air Force One late Sunday, Trump stated, “You’d start with all countries… So let’s see what happens. There are many countries.” He went on to clarify that there wouldn’t be any specific cut-off point for which nations would be affected.
When questioned about the possibility of the tariffs only focusing on the top 10 or 15 trading partners with significant duties on US goods, Trump firmly dismissed the notion, saying, “Who told you 10 or 15 countries? You didn’t hear it from me.”
The looming announcement of the tariffs has caused turbulence in the financial markets. On Monday morning, all three major US stock indexes saw significant declines amid concerns about the economic fallout of widespread tariffs and the lack of detailed information ahead of the plan’s release.
While the president’s remarks suggest a broader approach, several administration officials have previously indicated that the tariffs would likely be aimed at a smaller group of nations with substantial trade imbalances with the US.
Treasury Secretary Scott Bessent recently referred to the “Dirty 15” in an interview with Fox Business, and National Economic Council director Kevin Hassett has also highlighted that a group of around 10 to 15 countries are responsible for most of America’s trade deficit.
As the world awaits more specifics on the tariff plan, markets remain on edge, bracing for potential economic impacts.
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