U.S. President Donald Trump’s early trade moves were merely a prelude to what came Thursday: the unveiling of his broader vision for a new era of global trade relations. The White House announced that it would impose “fair and reciprocal” tariffs on all countries that impose duties on U.S. goods.
“On trade, I have decided for purposes of fairness that I will charge a reciprocal tariff, meaning whatever countries charge the United States of America, we will charge them. No more, no less,” Trump said in the Oval Office upon signing a presidential memorandum.
U.S. President Donald Trump’s early trade moves were merely a prelude to what came Thursday: the unveiling of his broader vision for a new era of global trade relations. The White House announced that it would impose “fair and reciprocal” tariffs on all countries that impose duties on U.S. goods.
“On trade, I have decided for purposes of fairness that I will charge a reciprocal tariff, meaning whatever countries charge the United States of America, we will charge them. No more, no less,” Trump said in the Oval Office upon signing a presidential memorandum.
The memo directs U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer, both still unconfirmed by the Senate, to provide a country-by-country assessment within 180 days to determine whether reciprocal tariffs are necessary. A White House official told reporters on Thursday that foreign nations would be given the opportunity to negotiate the duties that they could face. Lutnick said the soonest the tariffs could be in place is April 2.
Trump’s move represents a radical challenge to existing trade rules set under the World Trade Organization. And it does not spare Washington’s partners. U.S. allies are often “worse than our enemies” on trade, Trump said, with presidential trade advisor Peter Navarro singling out the European Union as being guilty of “pernicious” trade deficits.
One of Trump’s main goals is to reduce the U.S. trade deficit, a major grievance of his administration. But ultimately, Trump made it clear that he hopes these levies force companies to relocate to the United States, saying, “If you build your product in the United States, there are no tariffs.”
Read more in today’s World Brief: Trump Unveils Plan to Levy Reciprocal Tariffs on U.S. Allies, Competitors.
FP’s Lili Pike contributed to this report.
This post is part of FP’s ongoing coverage of the Trump administration. Follow along here.
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