President Donald Trump has signed a memorandum that enforces reciprocal tariffs and has instructed his trade advisors to calculate all the taxes that other countries impose on the United States.
The order could have a significant impact on the current trade system.
“Every country that taxes the United States will receive the same tax back. No more, no less,” Trump said from the Oval Office.
He added, “Very simple. Nobody knows what the exact number is. If you take every country and look at how much they tax us, in almost all cases, they are taxing us much more than we tax them. Those days are over now.”
