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Trump targets allies and adversaries with 'reciprocal' tariffs in new executive order
euronews (in English)
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10 months ago
US President Donald Trump signs an executive order implementing reciprocal tariffs on US trade partners and adversaries as he pushes to eliminate trade imbalances with Washington.
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00:00
U.S. President Donald Trump signed an executive order instating reciprocal tariffs on all
00:07
nations that tax U.S. products.
00:10
He says the new measures are aimed at eliminating trade imbalances with Washington.
00:15
I have decided for purposes of fairness that I will charge a reciprocal tariff, meaning
00:21
whatever countries charge the United States of America, we will charge them, no more,
00:27
no less.
00:28
In other words, they charge us a tax or tariff, and we charge them the exact same tax or tariff.
00:36
Very simple.
00:37
I'm a consumer's expecter.
00:39
Economists believe the move may cause a turbulent economic climate domestically.
00:44
They argue that if other countries retaliate with their own set of tariffs and trade barriers,
00:49
prices will increase to consumers.
00:51
But Trump remains optimistic that his plan will work.
00:54
Nobody really knows what is going to happen other than we know that jobs are going to
00:59
be produced at levels that we haven't seen before.
01:02
We know that we think interest rates are going to ultimately be coming down because of things
01:07
that happen, and they go hand in hand with the tariffs.
01:12
For weeks, Trump has been antagonizing allies and rivals alike and threatening to levy tariffs.
01:18
Many countries have been preparing countermeasures to strike back if Trump follows through with
01:22
his threats.
01:24
Experts say Trump's policies are pushing the world towards an all-out trade war, which
01:28
carry the risk of reducing growth.
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