President Trump has signed a plan to implement increased import duties on countries that impose tariffs on US goods, promoting what he calls fairness in trade relations. In his view, this reciprocal tariff system will balance the scales for American imports. While experts warn of potential repercussions, including a trade war and rising prices, Trump argues that the US is often subjected to higher tariffs than it imposes. This shift reflects his departure from traditional bipartisan support for free trade agreements.
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.
In almost all cases, they're charging us vastly more than we charge them. But those days are over.
Experts have raised concerns that Trump's tariffs could set off a global trade war that would cause surging prices.
Trump has long viewed trade as a matter of winners and losers and has argued that the US has been very unfairly treated by its allies abroad.
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