Trump signs executive order to establish reciprocal tariffs for U.S. trading partners

President Trump signed an executive order to establish reciprocal tariffs for U.S. trading partners. This means the U.S. will impose tariffs that match those imposed by other countries on American goods, tailored to each nation’s trade practices. Previously, Trump announced tariffs on China, Mexico, and Canada, with some tariffs already in effect. The new order allows for a case-by-case assessment of tariffs based on various factors, including unfair taxes and regulatory burdens. The administration plans to implement these tariffs quickly, starting with countries that have the largest trade deficits with the U.S. Developing countries may be most affected, and officials hope this will encourage negotiations to lower tariffs globally.