Recently, President Donald Trump established a new Trade and Tariff Reciprocity Policy. In his signed memo, he stated, “It is the policy of the United States to reduce our large and persistent annual trade deficit in goods and to address other unfair and unbalanced aspects of our trade with foreign trading partners.” His memo also instructs his administration to identify “the equivalent of a reciprocal tariff for each foreign trading partner.”
During the signing event, President Trump remarked, “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. In other words, they charge the US a tax or tariff, and we will charge them the exact same tax or tariff, very simple.”
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