Trump greenlights reciprocal tariffs

Business & Economy

The Big Story

Trump greenlights reciprocal tariffs

President Trump signed off on proposed reciprocal tariffs that he says will crack down on unfair and discriminatory tariffs from adversaries and allies alike.

The tariffs will be tailored to each foreign trading partner across five different areas: Tariffs the nation imposes on U.S. products; unfair taxes imposed; cost to U.S. businesses and consumers from another country’s policies; exchange rates; and any other practices the trade representative’s office determines is unfair.

The import taxes won't be immediately imposed, but by signing of the presidential memorandum, Trump paves the way for his administration to begin a review process to initiate them.

White House officials said Trump wants to move quicky to impose the tariffs, suggesting it would be “weeks” and no longer than “a few months” until they are in place.

The president in the memo directs Commerce secretary nominee Howard Lutnick and U.S. trade representative nominee Jamieson Greer to consult with Treasury Secretary Scott Bessent and Homeland Security Secretary Kristi Noem, among others, and “quickly” submit a report detailing their proposals for each country.

Office of Management and Budget head Russell Vought would then submit a report within 180 days to assess the fiscal impact of the tariffs.

Lutnick on Thursday predicted the study would wrap up by April 1 and Trump would be able to impose the new tariffs by April 2.

The Hill's Alex Gangitano has more here.

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