Trump Announces New Tariffs Aimed at Specific Nations

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US President Donald Trump is strengthening his plans to target exports from nations he believes have unfair trade policies towards America. On Thursday, Trump signed a memo directing staff to create custom tariffs for each country while considering various factors such as their current tariffs, exchange rates, trade balances and other rules.

In detailing its concerns, the White House pointed out that foreign tariffs are not necessarily the main issue, specifically singling out the European Union for policies it claims put US exporters at a disadvantage. While there remain many questions about these plans, they likely kick off global trade talks.

Which countries could be affected?

The memo signed by Trump requested staff to report back on a plan for “reciprocal trade and tariffs” within 180 days. According to Howard Lutnick, who was selected as Commerce Secretary, his team is prepared to present a proposal to the president by April 1st.

Trump presented this move for so-called reciprocal tariffs as part of his goal to attract investment in America and enhance manufacturing industries. “If you build your product in the United States, there are no tariffs,” he stated. He also emphasized that US companies face higher import costs than those from other nations, stating: “Those days are over.

In addition to the European Union, Trump’s actions could impact trade relationships with countries such as India, Vietnam and Thailand which have high tariffs and depend significantly on the US market for their exports. Before this announcement, at a meeting with Indian Prime Minister Narendra Modi, Trump vowed reciprocal tariffs: “Whatever India charges us, we charge them.”

In recent days, officials in both Thailand and Vietnam expressed that they were reviewing trade ties with America.

Ahead of the memo’s signing, Europe stated its commitment to maintaining close partnership with America but also being prepared to defend their interests. Olof Gill from the commission’s trade division mentioned: “We will continue seeking constructive engagement while at the same time stand ready to protect our interests.”