Trump signs memo on tariffs

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00:00Now, President Donald Trump has unveiled his plans to target countries with new reciprocal

00:05tariffs, doubling down on his push for more balanced trade and to boost U.S. investment.

00:12He signed a memo instructing staff to develop customs tariffs for each country, promising

00:19to target nations which charge tax on the U.S. imports by matching them.

00:24Let's take a look at what he had to say.

00:28And on trade, I have decided for purposes of fairness that I will charge a reciprocal

00:34tariff, meaning whatever countries charge the United States of America, we will charge

00:39them.

00:40No more, no less.

00:42In other words, they charge us a tax or tariff and we charge them the exact same tax or tariff.

00:50Very simple.

00:51In addition, we will make a provision for subsidies provided by countries in order to

00:57take economic advantage of the United States, which a lot of countries do, including our

01:03allies.

01:04Our allies, in many cases, are worse than our enemies in this having to do with trade.