Washington DC, Jan. 10 -- US President Donald Trump has announced a one-year cap on credit card interest rates, proposing a maximum rate of 10 per cent, to be effective from January 20.

In a post on Truth Social, which was shared on X by The White House, Trump criticized credit card companies for charging interest rates ranging from 20 per cent to 30 per cent or higher, arguing that such rates have placed an undue financial burden on Americans.

He attributed the persistence of high interest rates to policies during the Joe Biden administration, framing the proposal as a measure aimed at improving affordability for consumers.

According to the post, the proposed cap would take effect on January 20, 2026, and would remain in place for one...