Trump's all-caps post on Truth Social announcing the presser offered no details about the plan for new tariffs.
Trump said that the U.S. will treat other countries' non-tariff policies as unfair trade practices that warrant tariffs in response.U.S. President Donald Trump , joined by Secretary of Commerce Howard Lutnick, delivers remarks after signing an executive order on reciprocal tariffs in the Oval Office at the White House on February 13, 2025 in Washington, DC."They charge us a tax or tariff and we charge them," Trump said during a press event in Oval Office.
Those include value-added taxes, or VATs, and other practices that the office of the U.S. trade representative deems to be unfair trade limitations. He also suggested that additional tariffs, including on auto imports, are on the way, Reuters reported.VATs are consumption taxes levied at different stages of a supply chain. They are "trade neutral," the nonpartisan Tax Foundation noted Wednesday in a report accusing the Trump administration ofThe reciprocal tariffs will not go into effect immediately.
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