US Pres. Trump: Today is the big one: reciprocal tariffs

Source Fxstreet

In a recently shared social media post, US President Donald Trump pointed to an announcement of reciprocal tariffs.

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

Market reaction

The US Dollar Index recovered from session lows with the immediate reaction. At the time of press, the index was down 0.15% on the day near 108.00.

Tariffs FAQs

Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas.

Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.

There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs.

During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
US September CPI preview: inflation set to hit 3.7% — will the Fed hike in December?US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.
Author  Irene Q.
Oct 10, Sat
US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.
placeholder
Yen inches toward 159 as Tokyo reopens — where is the line in the sand before 160?USD/JPY traded around 158.5 on Tuesday after Monday's 158.60 close — the highest since September 24 — as Tokyo reopened and the market re-focused on two dates dominating the yen calendar: the G20 finance ministers' meeting in Bangkok on October 15 and the Bank of Japan's October 30 decision. Here are the three forces leaning on the yen, the positioning picture, and the scenarios into Wednesday's US CPI.
Author  Irene Q.
Oct 13, Tue
USD/JPY traded around 158.5 on Tuesday after Monday's 158.60 close — the highest since September 24 — as Tokyo reopened and the market re-focused on two dates dominating the yen calendar: the G20 finance ministers' meeting in Bangkok on October 15 and the Bank of Japan's October 30 decision. Here are the three forces leaning on the yen, the positioning picture, and the scenarios into Wednesday's US CPI.
placeholder
Strong profits, falling shares: bank earnings day one meets a memory-chip rout — with CPI and ASML aheadGoldman Sachs blew past estimates (EPS $17.01 vs $13.09 expected, profit +33%) while JPMorgan missed ($5.75 vs $5.93) and Wells Fargo fell 3% — yet the S&P 500 finished flat at 7,805.45, pinned below its record close as a memory-chip rout (SOX −2.67%, Micron under $1,000) kept the pressure on. Tonight brings the week's decider: US September CPI at 8:30 ET, then Bank of America, Morgan Stanley, BlackRock and ASML before the open. Here are the levels, both cases, and the watch list.
Author  Irene Q.
Yesterday 06: 06
Goldman Sachs blew past estimates (EPS $17.01 vs $13.09 expected, profit +33%) while JPMorgan missed ($5.75 vs $5.93) and Wells Fargo fell 3% — yet the S&P 500 finished flat at 7,805.45, pinned below its record close as a memory-chip rout (SOX −2.67%, Micron under $1,000) kept the pressure on. Tonight brings the week's decider: US September CPI at 8:30 ET, then Bank of America, Morgan Stanley, BlackRock and ASML before the open. Here are the levels, both cases, and the watch list.
placeholder
Bitcoin's V-shaped rebound: from $80,953 back above $83,000 — spot buyers step in as the Fed softens, but ETF outflows lingerBitcoin slid to $80,953 on October 13 — then snapped back above $83,000, reclaiming the 81,847–82,305 'golden zone' on spot-led buying as Williams and Waller cooled the Fed's hawkish tone and the dollar pulled back from its 18-month high. But October ETF outflows near $386 million and a fear-and-greed reading of 56 say the repair is unfinished. Here are the levels, the transmission chain and both cases ahead of tonight's US CPI.
Author  Suzie
Yesterday 06: 36
Bitcoin slid to $80,953 on October 13 — then snapped back above $83,000, reclaiming the 81,847–82,305 'golden zone' on spot-led buying as Williams and Waller cooled the Fed's hawkish tone and the dollar pulled back from its 18-month high. But October ETF outflows near $386 million and a fear-and-greed reading of 56 say the repair is unfinished. Here are the levels, the transmission chain and both cases ahead of tonight's US CPI.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 14, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 14, 2026. Read on for the details.
Author  Mitrade
Yesterday 07: 11
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 14, 2026. Read on for the details.
goTop
quote