The president is rolling out tariffs to equalize trade relations with foreign nations.
President Donald Trump laid out plans Feb. 7 for a reciprocal tariff announcement expected Monday or Tuesday.
Nations that impose tariffs on U.S. products can expect similar policies in return, he said.
“Where a country … charges us so much, and we do the same,” Trump said. “I think that’s the only fair way to do it. That way, nobody’s hurt.”
He made the remarks during a joint press conference with Japanese Prime Minister Shigeru Ishiba at the White House.
The president said more details will be provided in a news conference to be held on a date yet to be determined in the coming days.
Basing trade policy on other nations’ approaches is needed, according to Trump, to level the economic playing field.
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Trump told reporters at an impromptu gathering before meeting with Ishiba that the United States should be “treated evenly with other countries.”
“We don’t want any more, any less,” the president said.
Auto tariffs are also under consideration, according to the president.
“That’s always on the table,” Trump said. “It’s a very big deal, because … we have cases where we don’t supply autos, and other countries do.”
Ishiba said the two countries are working toward mutually beneficial trade policies. When asked if he would respond with any retaliatory tariffs if fees were placed on Japan’s products, the prime minister declined to comment on a “hypothetical situation.”
Japan and the United States entered into a joint trade agreement in October 2019 during Trump’s first term in office. The deal eliminates or reduces most tariffs between the two trade partners.
Other countries could see tariffs imposed in the near future, according to Trump.
India currently imposes hefty import fees on certain U.S. products, including 60 percent on automobiles, between 70 and 100 percent on almonds, and varying tariffs on other agricultural products, according to the U.S. Department of Commerce.
The European Union (EU) levies 25 percent taxes on bourbon whiskey, up to 50 percent tariffs on motorcycles, and 10 percent on automobiles, among other things.
Trump has taken exception to the EU’s use of value-added taxes that raise the price of merchandise sold to member nations, calling the practice unfair. He had promised “substantial” action and incoming tariffs to resolve a “tremendous” trade deficit with the EU.
Current U.S. tariffs of 2.5 percent on automobiles from the EU could be raised to match those imposed on American vehicles, according to Trump.
China taxes U.S. automobiles at 40 percent, up to 25 percent for lithium-ion batteries, 25 percent for steel and other products, and 25 percent on agricultural goods.
The two nations are in a trade dispute over additional tariffs imposed by Trump recently. All goods from China face 10 percent fees on top of already levied tariffs until the flow of fentanyl precursor chemicals from China to the United States’ neighboring countries, like Mexico, ceases.
Other countries, including Russia and Turkey, among others, tax U.S. imports at varying degrees.
Trump also imposed 25 percent tariffs on Canada and Mexico, which was paused shortly before the effective date of Feb. 4 for 30 days after the leaders of the two nations agreed to bolster border security.
Both countries are sending 10,000 troops each to stem the flow of illegal immigrants and fentanyl trafficking into the United States.
Stock markets teetered over the week in response to the president’s aggressive trade policies while the commander in chief expressed confidence in the long-term outcomes of his policies.
“The tariffs are going to make us very rich and very strong,” Trump told reporters in the Oval Office on Jan. 31. “And we’re going to treat other countries very fairly, but if you think about it, other countries charge us tariffs, we don’t charge them tariffs, and it’s about time that that changes.”
Using tariffs to generate revenue is a key element of the president’s economic and foreign trade policy.
Tax Foundation analysts calculated in a Jan. 2025 report that tariffs implemented by the prior two presidential administrations generated approximately $233 billion in revenue for the United States.
Some critics of using tariffs suggest they could result in higher prices for consumers. Others raised concerns about the impact of potential retaliatory tariffs, which China already imposed.
