U.S. President Donald Trump said he plans to impose reciprocal tariffs on each country next week as part of his sweeping tariff action, but said the rate would be lower than expected. "We're going to make it all countries, we're going to make it very loose," Trump told reporters in the Oval Office on Wednesday local time. "I think people will be very surprised. In many cases, it will be lower than the tariffs they've been charging us for decades." Trump said: "We're not being treated kindly by other countries, but we're going to be nice. So I think people will be pleasantly surprised."