Trump plans retaliatory rariffs on select goods

President Trump has announced his intention to impose retaliatory tariffs on selected goods to address the trade imbalance where Americans buy more from certain countries than they sell. The specific tariff rates are not yet finalized, but the administration aims to equate the tariffs on foreign goods to those imposed on American products, considering VAT, subsidies, and currency policies. Industry Minister Morten Bødskov assures that the Danish government is monitoring the situation closely and will coordinate with the EU for a targeted response if European goods face increased tariffs. Trump hopes the tariffs will increase demand for American products and create jobs, despite warnings from economists about potential short-term inflation. Trump has already imposed additional tariffs on Chinese goods and steel and aluminum, and has threatened Canada and Mexico with a general 25% tariff, which is presently postponed.