President Trump signed a presidential memorandum laying out his plan to impose “reciprocal tariffs” on foreign nations, saying “they charges us a tax or tariff and we charge them.” The memo calls on Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer to assess within 180 days on a country-by-country report whether “remedies” that ensure reciprocal trade relations are necessary. Office of Management and Budget head Russ Vought will likewise submit a report within that timeframe on the fiscal impact of instituting the measures.
