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President Trump ordered federal agencies on Thursday to explore how to adjust U.S. tariffs to match those of other countries, a move that threatens international rules in place for decades.
The order stops short of actually imposing the tariffs immediately, as many foreign capitals feared, and instead directs the Commerce Department and the U.S. trade representative to deliver reports on the steps to be taken to achieve reciprocal trading status. Commerce Secretary nominee Howard Lutnick said those studies should be completed by April 1.
“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.
The order stops short of actually imposing the tariffs immediately, as many foreign capitals feared, and instead directs the Commerce Department and the U.S. trade representative to deliver reports on the steps to be taken to achieve reciprocal trading status. Commerce Secretary nominee Howard Lutnick said those studies should be completed by April 1.
“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.
wsj.com
Posted from wsj.com
International Trade
Money
Import and Export
Economy
Business
Posted 10 mo ago
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But, but, but tariffs are okay when other countries slap them on us. Never mind, it keeps American companies from gaining a bigger market share in foreign countries.
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Good afternoon Lt Col Charlie Brown. Excellent post. Thank you for sharing this Ma'am. This should be interesting.
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