President Trump indicated he was ready to broaden his trade war on Friday, saying that he would announce reciprocal tariffs on other countries next week.
Such a measure would raise the levies the United States charges on imports to match what other countries charge on American products, a move that could trigger new trade fights.
Speaking to reporters before a meeting with Prime Minister Shigeru Ishiba of Japan at the White House, Mr. Trump said that the tariffs would restore fairness to trading relationships and eliminate U.S. trade deficits.
Making trade more reciprocal, Mr. Trump said, would ensure “that we’re treated evenly with other countries; we don’t want any more, any less,” he added.
It’s the latest indication that Mr. Trump is willing to use tariffs broadly and unsparingly. He has already imposed an additional 10 percent tariff on all products from China, in addition to the levies on hundreds of billions of dollars of goods in his first term.
Over the past week, the president came within hours of imposing sweeping tariffs on Canada and Mexico, America’s largest trading partners, saying those countries were sending drugs and migrants to the United States. He ultimately paused those measures for 30 days after the countries offered him some concessions.
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Source: Economy - nytimes.com
