KUALA LUMPUR — US President Donald Trump has signed on plans for reciprocal tariffs on all of the country’s trading partners that could take effect in April.
Trump said the Commerce Secretary and other trade officials would study how to tailor tariffs on a country-by-country basis, taking into account the taxes those trading partners impose on American goods.
The president signed on the order yesterday, making special mention of the European Union (EU) for being “absolutely brutal” in its trade ties with Washington, according to AFP.
The EU imposes a 10% tariff on US vehicles, while the US charges only 2.5%.
A White House official told AFP that the study will start with examining countries with which the US has the “biggest deficits or most egregious issues”.
CNN quoted Howard Lutnick, Trump’s pick for commerce secretary, as saying that the study would be completed by April and Trump would decide then when to enact the recommended new tariffs.
Speaking to reporters at the White House on the plan, Trump said the memo was called the “Fair and Reciprocal Plan”.
“They charge us a tax or tariff and we charge them the exact same.
“Nobody knows what that number is unless you go by country,” CNN quoted him saying.
To date, since taking office last month, Trump has imposed 10% tariff on all Chinese imports to the US, and Beijing has retaliated with higher tariffs on various US imports. US coal and liquified natural gas products are under a 15% tax, and American crude oil, agricultural machinery and large-engine cars face 10%.
Trump also announced but then paused 25% tariffs on Canada and Mexico for a month, pending separate deals on controlling migration and fentanyl smuggling into the US. – February 14, 2025