5 Takeaways From Trump’s Sweeping Reciprocal Tariffs Plan

5Mind. The Meme Platform
The Epoch Times Header

The United States plans to tariff all trading partners at an amount that matches the tariffs placed on the US, the president says.

President Donald Trump has announced sweeping reciprocal tariffs on all U.S. trading partners “for purposes of fairness.”

Speaking from the Oval Office on Feb. 13, the president confirmed that he will implement a matching tariff on whatever amount countries charge the United States.

“It works out very well,” Trump told reporters. “It’s a beautiful, simple system, and we don’t have to worry about charging too much or too little.”

The tariffs could go into effect as early as April 2 following the completion of a study, Howard Lutnick, Trump’s nominee for secretary of the Department of Commerce, said while speaking alongside the president in the Oval Office.

Here are five key takeaways from Trump’s latest tariff plan.

Countries Affected the Most

Reciprocal tariffs are more likely to affect emerging market economies—Brazil, India, Vietnam, and several Southeast Asian and African nations—as many of these countries currently maintain wider tariff gaps.

World Bank data from 2022 indicate, for example, that India’s weighted average effective tariff rate on the United States was about 9.5 percent. The average U.S. tariff rate on India’s products entering the country is about 3 percent.

“Traditionally, India is right at the top of the pack,” Trump told reporters, noting that the United States cannot sell Harley-Davidson products in India because tariffs are high.

He made the comments before his meeting with Indian Prime Minister Narendra Modi at the Oval Office on Feb. 13.

“They charge more tariffs than any other country,“ Trump said. ”We’ll be talking about that.”

The president also singled out Taiwan, saying all chip production had moved to Taiwan from the United States and that he wanted to bring manufacturing back to the country.

In 2023, Taiwan’s overall average nominal tariff rate for imported goods was 6.34 percent, ranging between 4.13 percent for industrial products and 15.06 percent for agricultural products.

“U.S. industry continues to request that Taiwan lower tariffs on imports of many products,” the International Trade Administration stated in a January 2024 report.

By Andrew Moran

Read Full Article on TheEpochTimes.com

Contact Your Elected Officials
The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Trump’s SCOTUS “Foreign Interests” Comment Explained

We've addressed claims Trump’s tariffs were illegal, but not his accusation that court members are influenced by foreign interests.

The Party Of Hate Is Unleashing Political Violence

Sec. Scott Bessent placed blame for violence against President Trump squarely on the Democrat Party who are “normalizing this violence. It’s got to stop.”

‘Radical Right’ Restore Britain: The Remigration Dream Machine?

There is nothing wrong with being white, male, or straight—you are not the problem. The issue lies in systems, not individuals, and flawed DEI policies.

Trump 2.0’s Grand Strategy Against China Is Slowly But Surely Coming Together

Casual observers think Trump acts without strategy, but Trump 2.0 is steadily executing a calculated plan aimed at countering China’s global rise.

From legacy to liability

"When the Washington Post cut a third of its shrinking staff, leaders called it 'strategic restructuring'—like calling an iceberg a 'necessary pivot.'!"

Savannah Guthrie Announces $1 Million Reward for Information in Mother’s Disappearance

Savannah Guthrie has said she is offering a $1 million reward for information related to the location of her missing mother, Nancy Guthrie.

Early Tax Refunds Are Showing a 14 Percent Increase, IRS Says

The average tax refund for American taxpayers has increased on a year-over-year basis, the IRS said in a Feb. 20 update.

EPA to Reform $5 Billion ‘Clean School Bus’ Program

EPA is revamping the Biden administration’s Clean School Bus (CSB) program, which focused on installing electric buses at U.S. schools.

Judge Says Jack Smith’s Final Report on Trump Can Never Be Released

A federal judge on Feb. 23 said that the final report on President Donald Trump compiled by a former special counsel shall not be released.

5 Things to Watch at Trump’s State of the Union

President Trump prepares to deliver his first State of the Union of his second term, highlighting achievements and rallying GOP support before 2026 elections.

Trump Honors Angel Families, Proclaims National Day of Remembrance

President Trump issued a proclamation at the White House establishing Feb. 22 as National Angel Family Day to honor Americans killed by illegal immigrants.

US Trade Representative Says Nations Are Not Backing Out of Tariff Deals

U.S. trading partners who made deals under Trump show no plans to exit, even after the Supreme Court struck down most of his tariffs.

DOJ Fires Interim US Attorney Hours After Virginia Court Selects Him

The DOJ announced it fired the interim U.S. attorney for the Eastern District of Virginia just hours after judges on the court made the appointment.
spot_img

Related Articles

Popular Categories

MAGA Business Central