President Donald Trump has announced sweeping reciprocal tariffs on all U.S. trading partners “for purposes of fairness.”
Speaking from the Oval Office on Feb. 13, the president confirmed that he will implement a matching tariff on whatever amount countries charge the United States.
“It works out very well,” Trump told reporters. “It’s a beautiful, simple system, and we don’t have to worry about charging too much or too little.”
The tariffs could go into effect as early as April 2 following the completion of a study, Howard Lutnick, Trump’s nominee for secretary of the Department of Commerce, said while speaking alongside the president in the Oval Office.
Here are five key takeaways from Trump’s latest tariff plan.
Countries Affected the Most
Reciprocal tariffs are more likely to affect emerging market economies—Brazil, India, Vietnam, and several Southeast Asian and…
