Trump signs measure for reciprocal tariffs targeting countries with higher trade barriers

President Trump has signed a measure to impose reciprocal tariffs on countries with higher tariffs than the U.S. This action aims to address trade imbalances and will involve new levies tailored to each country, potentially taking weeks or months to implement. The tariffs will also target non-tariff barriers, including value-added taxes (VAT), which could significantly impact European exporters. Trump's approach marks a shift from a universal tariff strategy proposed during his 2024 campaign. In addition to reciprocal tariffs, Trump plans to introduce import taxes on cars, semiconductors, and pharmaceuticals. This move comes as he prepares to meet with Indian Prime Minister Narendra Modi, amid ongoing criticism of India's high tariffs.