“Today is the big one: reciprocal tariffs,” Trump wrote on his social media platform.

He later posted he would detail the latest in a barrage of tariffs on imports to the U.S. he has unveiled since taking office last month in a press conference at 1pm (1800 GMT).

That will come a few hours ahead of Indian Prime Minister Narendra Modi’s White House visit. Modi, who is scheduled to arrive at 4 p.m. (2100 GMT), oversees a government that imposes the highest tariffs on U.S. exports of any major U.S. trading partner.

The Republican president’s latest round of market-rattling tariffs has ratcheted up fears of a widening global trade war and threatened to accelerate U.S. inflation.

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Trump, who took office Jan. 20, has already announced tariffs on all steel and aluminum imports beginning on March 12, imposed 10% tariffs on goods from China, and imposed a 30-day hold on tariffs on goods from neighboring Canada and Mexico.

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.

Trump said on Monday he was also looking at separate tariffs on cars, semiconductors and pharmaceuticals.