Trump says he’ll announce reciprocal tariffs on US trading partners on Thursday [Video]

President Donald Trump said Thursday that he’s announcing increases on U.S. tariffs to match the tax rates that other countries charge on imports.“TODAY IS THE BIG ONE: RECIPROCAL TARIFFS!!!” Trump posted on his social media site, Truth Social. “MAKE AMERICA GREAT AGAIN!!!”Trump later posted that there would be a news conference in the Oval Office on the tariffs Thursday afternoon, raising questions about whether he’s formally signing the tariffs as he previously said he would do or simply making the broader case for them to U.S. voters with plans to study and formulate a detailed set of policies.The prospect of a dramatic hike on tariffs could send shockwaves through the world economy, possibly depressing growth while also causing inflation to intensify. Trump has maintained that such tariffs will help to create domestic factory jobs, but most economists say they would effectively be a tax increase on U.S. consumers that would …