US President Donald Trump will announce the reciprocal tariffs on Thursday for the countries at a press conference in the Oval Office.

The news was announced by the American head of state himself through a post on the social network Truth Social.

"Three big weeks, maybe the best, but today is big: reciprocal tariffs," Trump wrote.

The move comes after an executive order imposing a 25% tariff on imports from Canada and Mexico and a 10% tariff on Chinese goods.

While Brazil has refrained from retaliating, Canada quickly announced a 25% tax on US imports. The tariffs on Canada and Mexico were suspended for 30 days, starting on February 4.

The tariffs fulfill a campaign promise to protect American industries.