The Tariff War – Next Step

President Donald Trump signed a memorandum Thursday calling for “fair and reciprocal” trade tariffs on all major U.S. trading partners, including longtime allies.

What should be understood by “reciprocal
tariffs” is the idea of applying equal tariffs by the US on other countries, matching the tariffs those countries impose on the US, and not for ’tariffs only’ but also other factors impacting trade has been mentioned.

The memo signed calls on Commerce Secretary Howard Lutnick and Jamieson Greer, Trump’s official global trade representative, to assess within 180 days on a country-by-country report whether “remedies” that ensure reciprocal trade relations are necessary.

Read more here: WSJ

Source:WSJ