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President Donald Trump signed sweeping reciprocal tariffs into effect via executive order on Thursday, shaking up the global landscape on trade and promising Americans that this new policy was signed in the spirit of fairness.
“On trade I have decided that for purposes of fairness, that I will charge a reciprocal tariff meaning whatever countries charge the United States of America, we will charge them,” he said during a press conference in the Oval Office.
In other words, the United States will charge a reflective and equal tariff on any country that tariffs them.
In 2023, the president announced the “Trump Reciprocal Trade Act,” which he explained at the time would “put American workers on a level playing field.”
According to his explanation in an Agenda47 policy video two years ago, Trump said the United States would take “plenty of money” under such a policy.
“If India, China, or any other country hits us with a 100 or 200 percent tariff on American-made goods, we will hit them with the same exact tariff,” he said. “In other words, 100 percent is 100 percent. If they charge us, we charge them —an eye for an eye, a tariff for a tariff, same exact amount. One thing is going to happen: probably they drop the tariff, but if they don’t, that’s okay. We’ll take in plenty of money.”
President Trump projected confidence and excitement ahead of the tariff policy signing this week. On Thursday, he wrote on Truth Social, “THREE GREAT WEEKS, PERHAPS THE BEST EVER, BUT TODAY IS THE BIG ONE: RECIPROCAL TARIFFS!!! MAKE AMERICA GREAT AGAIN!!!”
According to CNN, the tariffs will not take effect immediately, therefore giving other nations enough time to assess their trade status with the United States and adjust accordingly if needed.
This week, Trump economic advisor Kevin Hassett pushed back on claims that tariffs would somehow be bad for the American consumer. He told MSNBC that such claims were “false.”
“Last year, U.S.-based companies paid foreign governments $370 billion in taxes. Meanwhile, foreign companies paid the U.S. $57 billion in taxes,” he pointed out.
