President Trump announced the implementation of reciprocal tariffs on imports as part of his commitment to fairness in trade, aimed at matching tariffs imposed by other countries. This comes after recent tariffs on China and potential levies on Canada and Mexico were announced. Trump asserts that many countries, like India, impose higher tariffs on US goods, resulting in trade imbalances. He believes these measures will protect US manufacturers and reflect his 'America First' policy, although economists warn that these tariffs may not benefit the US economy overall.
'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.'
'Trump has a longstanding belief that the US is being treated unfairly in global trade. He argues that many countries impose higher tariffs on US goods than the US does on theirs.'
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