President Donald Trump recently revealed plans to introduce reciprocal tariffs that align with the duties imposed by other nations. This marks a shift from his previous proposal of imposing a universal tariff on all global imports.
During a press briefing with Japanese Prime Minister Shigeru Ishiba, Trump stated, “I’ll be announcing that next week, reciprocal trade, so that we’re treated evenly with other countries. We don’t want any more, any less.”
Equal Treatment for All
Trump emphasized that these tariffs would be applicable to every country, with the official announcement expected early next week. He justified this approach by stating, “I think that’s the only fair way to do it that way nobody’s hurt. They charge us, we charge them. It’s the same thing, and I seem to be going in that line as opposed to a flat fee tariff.”
While acknowledging that the U.S. currently maintains lower tariffs on certain products compared to other nations, Trump did not specify any exemptions in the upcoming duties. He frequently highlights the higher tariffs imposed by foreign governments, particularly on automobiles, where the U.S. imposes a mere 2.5 percent duty.
Previous Tariff Threats
Previously, the president had threatened to impose a universal tariff ranging from 10 to 20 percent on all imports.