President Trump has imposed sweeping reciprocal tariffs on every country that charges the United States taxes or tariffs on imported goods.
“Whatever countries charge the United States of America, we will charge them. No more, no less,” the President said as he signed an order.
“In almost all cases, they’re charging us vastly more than we charge them, but those days are over.”
The President later added, “It is fair to all, no other Country can complain and, in some cases, if a Country feels that the United States would be getting too high a Tariff, all they have to do is reduce or terminate their Tariff against us.”
WATCH:
Trump: 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. In other words, they charge us a tax or a tariff, and we charge them the exact same tax or tariff. Very simple. Nobody knows what that number is unless you go by the individual country. You can see what it is if you go to the individual country and you look at what they’re charging us. In almost all cases, they’re charging us vastly more than we charge them, but those days are over.
The President also said on Truth Social,
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!
For purposes of this United States Policy, we will consider Countries that use the VAT System, which is far more punitive than a Tariff, to be similar to that of a Tariff. Sending merchandise, product, or anything by any other name through another Country, for purposes of unfairly harming America, will not be accepted. In addition, we will make provision for subsidies provided by Countries in order to take Economic advantage of the United States. Likewise, provisions will be made for Nonmonetary Tariffs and Trade Barriers that some Countries charge in order to keep our product out of their domain or, if they do not even let U.S. businesses operate. We are able to accurately determine the cost of these Nonmonetary Trade Barriers. It is fair to all, no other Country can complain and, in some cases, if a Country feels that the United States would be getting too high a Tariff, all they have to do is reduce or terminate their Tariff against us. There are no Tariffs if you manufacture or build your product in the United States.
For many years, the U.S. has been treated unfairly by other Countries, both friend and foe. This System will immediately bring Fairness and Prosperity back into the previously complex and unfair System of Trade. America has helped many Countries throughout the years, at great financial cost. It is now time that these Countries remember this, and treat us fairly – A LEVEL PLAYING FIELD FOR AMERICAN WORKERS. I have instructed my Secretary of State, Secretary of Commerce, Secretary of the Treasury, and United States Trade Representative (USTR) to do all work necessary to deliver RECIPROCITY to our System of Trade!
More from Fox Business:
A source familiar with the plans told FOX Business that Trump will sign a presidential memorandum ordering the U.S. Trade Representative to investigate and counter non-reciprocal trade across all trading partners. The representative will identify trade agreements where there are significant trade deficits that are unfair to the U.S.
Mentioned in the memo — according to the source — is that Brazil taxes U.S. ethanol at 18% while the U.S. taxes ethanol imported from Brazil at just 2.5%.
The President also took questions from reporters.
The Gateway Pundit will provide updates on the press conference.