"Today is the big one": Donald Trump set to drop new trade tariff plan 

U.S. President Donald Trump has announced plans to unveil new "reciprocal" trade tariffs on Thursday, declaring, "Today is the big one." However, he has yet to clarify what exactly the term means or which countries will be affected.

Posting on Truth Social, Trump celebrated recent economic developments, stating, "Three great weeks, perhaps the best ever. Today is the big one: reciprocal tariffs." He later confirmed that the tariffs would be formally announced at a 1 p.m. (ET) press conference in the Oval Office.

The announcement has left global markets on edge, as world leaders and businesses await details. Trump has already imposed tariffs on all steel and aluminum imports, set to take effect on March 12, along with 10% duties on Chinese goods. While Canada and Mexico have been given a temporary 30-day exemption, Trump has warned that the UK is "out of line" on trade, though he expressed optimism that an agreement could be reached without further tariffs.

Trump’s aggressive trade policies aim to boost American manufacturing, but economists remain divided. Supporters argue they will strengthen domestic industries, while critics warn they could lead to rising costs for consumers.

The economic shake-up comes amid broader shifts in U.S. foreign policy. As Trump prepares his latest tariff plan, his administration is also making waves in the defense arena. This week, he held a call with Russian President Vladimir Putin, while U.S. Defense Secretary Pete Hegseth signaled a major pivot away from European security commitments, underscoring a dramatic realignment in Washington’s global strategy.

Skynews contributed to this article.