Trump Signs Memo for 'Fair and Reciprocal' Tariffs

President Donald Trump has signed a memorandum directing his administration to develop a 'Fair and Reciprocal Plan' for tariffs that match those imposed by other countries on U.S. goods. This move aims to address perceived trade imbalances and unfair practices, such as high tariffs on U.S. exports by countries like Brazil and India. Economists warn that while this could bolster domestic manufacturing, it might lead to higher consumer prices and a potential global trade war. Some trading partners, including the EU and China, have already threatened or implemented retaliatory tariffs. Trump insists that the long-term benefits will outweigh short-term price increases, as it encourages companies to manufacture domestically. The administration's detailed plan is expected by April, fulfilling Trump's campaign promise of equitable trade practices.