Trump outlines reciprocal tariff plan in latest bid to reshape trade

Trump, who took office on January 20, has already announced tariffs on all steel and aluminum imports beginning on March 12

Trump signed a memo ordering his team to start calculating duties to match those other countries charge and to counteract non-tariff barriers such as vehicle safety rules that exclude US autos Picture: Alex Brandon

US President Donald Trump tasked his economics team on Thursday with devising plans for reciprocal tariffs on every country taxing US imports, ramping up prospects for a global trade war with American friends and foes.

"On trade, I have decided for purposes of fairness, that I will charge a reciprocal tariff, meaning whatever countries charge the United States of America, we will charge them. No more, no less," Trump told reporters in the Oval Office.