President Donald Trump said in a social media post he will announce reciprocal tariffs Thursday afternoon. In the social media post Trump said Thursday the tariffs will be announced at a 1 p.m. Thursday news conference.

Feb. 13, 6:46 a.m. EST Trump said on Truth Social his announcement on reciprocal tariffs —the U.S. imposing the same taxes on other countries’ imports as they impose on U.S. goods—is imminent, announcing a press conference at 1 p.m. EST and writing, “THREE GREAT WEEKS, PERHAPS THE BEST EVER, BUT TODAY IS THE BIG ONE: RECIPROCAL TARIFFS!!!”

Donald Trump's trade advisers were finalising plans for the reciprocal tariffs the U.S. president has vowed to impose on every country that charges duties on U.S. imports, ratcheting up fears of a widening global trade war.