The President of the United States, Donald Trump, signed a memorandum at the White House ordering his administration to determine 'the equivalent of a reciprocal tariff with respect to each foreign trading partner.' According to Trump, the measure aims to ensure fairness in international trade relations, ensuring that countries that impose tariffs on the U.S. are treated reciprocally.
The memorandum establishes the intention to reduce the annual trade deficit of the United States and address imbalances in trade with other countries. Under the 'Fair and Reciprocal Plan,' efforts will be made to counteract trade agreements considered non-reciprocal, determining equivalent tariffs for each foreign trading partner.
Experts point out that Trump redefines the concept of 'reciprocity' in terms of specific products and countries, rather than a general balance as established by the World Trade Organization (WTO). This interpretation could generate trade tensions and hinder negotiations, prompting potential reprisals from other nations.
In summary, the measure implies that the U.S. would impose tariffs equivalent to those applied by other countries, promoting what Trump considers greater fairness in international trade relations.
