US President Donald Trump was elected in large part on promises to fight inflation but he is seeing stubborn price rises
AFP

President Donald Trump says he will announce "reciprocal tariffs" Thursday.

Trump published a post in the early morning on Truth Social where he discussed tariffs.

"Three great weeks, perhaps the best ever, but today is the big one: reciprocal tariffs," Trump wrote. "Make America great again!!!"

The president later posted that he would announce them at a 1 p.m. news conference in the Oval Office.

Trump's tariffs have multiple countries vowing retaliation.

Prime Minister Shigeru Ishiba made a request through Japan's Washington-based embassy requesting an exclusion from Trump's 25% steel tariffs against Tokyo.

Prime Minister Justin Trudeau plans to respond to Trump's 25% steel tariffs against Canada.

After Trump imposed 25% tariffs on all imports from Canada and Mexico, he delayed them for 30 days after Prime Minister Justin Trudeau agreed to a border plan originally proposed under President Joe Biden.