US President Donald Trump is sharpening plans to hit exports from countries that he says have trade policies that are unfair to the US. On Thursday, he signed a memo that instructed staff to develop custom tariffs for each country, taking into account features such as their existing tariffs, exchange rates, trade balances and other rules.
In outlining its concerns, the White House said that tariffs imposed by other countries were not necessarily the biggest issue, singling out the European Union for other policies the Trump administration said put US exporters at a disadvantage.
While big questions remain about the plans, the announcement is likely to kick off trade talks around the world. The memo asked that staff report back for a plan for “reciprocal trade and tariffs” within 180 days.
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