Trump signs 'reciprocal' tariff plan for countries that tax US goods

Published On Feb 13, 2025, 2:17 PM

President Trump has announced a new plan to impose reciprocal tariffs on countries that tax or limit access to U.S. goods. The idea is to match any tariffs imposed on U.S. goods by foreign countries with equivalent tariffs on those countries' goods in the U.S. This move aims to address perceived unfair trading practices and promote domestic job growth. While the administration believes that these tariffs could boost U.S. jobs long-term, there are concerns about short-term price increases for consumers and potential retaliatory actions from other nations. The plan will involve an investigation into tariffs applied by various countries, followed by recommendations on how to proceed based on those findings.