Argentina's foreign minister will meet U.S. Secretary of State Marco Rubio on Tuesday in a trip aimed at laying the initial groundwork for a trade deal between the two nations, even as President Donald Trump prepares to impose sweeping tariffs.

The US will impose reciprocal tariffs on China of 34 per cent and hit the EU with a levy of 20 per cent, Donald Trump announced on Wednesday as he detailed new restrictions targeting America’s trading partners. The US will impose universal 10 per cent tariff on all countries, including on the UK, he said.

President Donald Trump announced Wednesday that he will impose a 10 percent tariff on imports from all countries around the world and will slap an additional, individualized tariff on approximately 60 countries his administration believes have the most unfair trade relationships with the U.