Trump Adds ‘Reciprocal’ Tariffs
President Donald Trump ordered his advisers to calculate broad new tariffs on U.S. trading partners. The order covers duties other countries place on U.S. goods as well as other taxes, subsidies given to their own industries and other behaviors the 47th U.S. president deems unfair.
The duties could start as soon as April.
The latest tariff order comes three days after Trump ordered 25% tariffs on all imported steel and aluminum, including finished metal products. Those duties are expected to go into effect in mid-March.
The metals tariffs came days after Trump placed — and temporarily suspended — 25% tariffs on all imports from Canada and Mexico. His recent 10% tariff on goods from China remains in place.
Trump’s routine trade threats have unsettled executives, investors and consumers alike, according to Reuters.
“There’s so much we don’t know. We don’t know if they will go in place. We don’t know if there will be exemptions at all,” said David Gitlin, CEO of appliance maker Carrier Global.
Ford CEO Jim Farley said the tariffs have added “a lot of cost and a lot of chaos” to American business, Reuters reports.
There are no comments at the moment, do you want to add one?
Write a comment