Trump moves to announce reciprocal tariffs

President Donald Trump on Friday told Republican lawmakers that he plans to announce reciprocal tariffs.

Gatekeeper reports that the move would fulfill a Trump campaign promise to impose tariffs on American imports equal to the rates that trading partners impose on American exports.

It was unclear which countries would be affected since details of the proposal were yet to be known.

Trump had on Thursday told Republican lawmakers of his plans during budget discussions at the White House.

The President and top aides have said they plan to use higher tariffs on foreign imports to help pay for extending 2017 tax cuts.

The White House is yet to comment on the new development.

Recall that Trump announced tariffs of 25 percent on Canada and Mexico on Saturday but delayed them after a negative reaction from investors.

The two largest US trading partners agreed to increase enforcement efforts at the border, a top Trump priority.