Trump announces "reciprocal tariffs" on U.S. trading partners
Source: Xinhua News Agency, Washington, February 13 (Reporter Xiong Maoling) U.S. President Trump signed a memorandum on the 13th, requiring relevant departments to determine "reciprocal tariffs" with each foreign trading partner. Trump stated when signing the memorandum in the Oval Office that "for the sake of fairness, I have decided to impose reciprocal tariffs, which means that regardless of how much tariffs other countries impose on the United States, we will impose the same tariffs on them, no more, no less." The memorandum stated that the U.S. policy is to "reduce the large and persistent trade deficit in goods" and address "other unfair and imbalanced trade issues" with foreign trading partners. The memorandum did not specify the timeline for the imposition of "reciprocal tariffs." On the 10th, Trump signed a document announcing a 25% tariff on all U.S. imports of steel and aluminum, claiming that he would impose so-called "reciprocal tariffs" on products such as chips, automobiles, and pharmaceuticals. U.S. allies such as Canada, Germany, and Japan have expressed opposition, arguing that the aforementioned tariff measures will undermine the multilateral trading system and hinder global economic development, resulting in significant losses for both the United States and its trading partners
Source: Xinhua News Agency
Xinhua News Agency, Washington, February 13 (Reporter Xiong Maoling) - U.S. President Trump signed a memorandum on the 13th, requiring relevant departments to determine "reciprocal tariffs" with each foreign trading partner.
When signing the memorandum in the Oval Office of the White House, Trump stated, "For the sake of fairness, I have decided to impose reciprocal tariffs, which means that regardless of how much tariffs other countries impose on the United States, we will impose the same tariffs on them, no more, no less."
The memorandum stated that the U.S. policy is to "reduce the large and persistent trade deficit in goods" and address "other unfair and imbalanced trade issues" with foreign trading partners. The memorandum did not specify the timing for the imposition of "reciprocal tariffs."
On the 10th, Trump signed a document announcing a 25% tariff on all U.S. imports of steel and aluminum, claiming that he would impose so-called "reciprocal tariffs" on products such as chips, automobiles, and pharmaceuticals. Allies of the United States, including Canada, Germany, and Japan, have expressed opposition, arguing that these tariff measures will undermine the multilateral trading system and hinder global economic development, resulting in significant losses for both the United States and its trading partners