Donald Trump's trade advisers were finalising plans on Wednesday for the reciprocal tariffs the U.S. president has vowed to impose on every country that charges duties on U.S. imports, ratcheting up fears of a widening global trade war.

President Donald Trump could sign an order as soon as Wednesday to require that U.S. tariffs on imports match the tax rates charged by other countries.

President Donald Trump could announce his most sweeping tariffs yet Wednesday, unveiling reciprocal tariffs that Trump argues would level the playing field for the U.S. in global trade and would instantly become the hallmark economic policy of his nascent second term, though economists project they would increase inflation this year.