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US to unveil next phase of sweeping tariffs as prior 10% ends
The previous 10% tariffs on much of the world are set to expire Friday, and the White House says the next steps will be announced later Thursday.
The Trump administration is set to unveil the next phase of its aggressive trade policy on Thursday, the White House said, amid reports that the plan could involve a fresh wave of sweeping tariffs.
The latest action comes as the current 10% tariff regime on much of the world is due to expire on Friday. White House press secretary Karoline Leavitt said U.S. Trade Representative Jamieson Greer will announce next steps later Thursday, adding that she asked the public to wait for further details.
The administration has argued its tariff approach would help revitalize US industrial areas and boost jobs. Critics have warned the tariffs could raise prices nationwide, noting that inflation has already surged earlier this year.
During questioning before US senators on Wednesday, Greer said Trump’s policies had not driven prices higher, citing a year-over-year decline in core inflation to 2.6%, which excludes food and energy, while overall inflation remains slightly higher than when Joe Biden left office, according to the Guardian Economics account.