President Donald Trump signed a memorandum on “reciprocal trade and tariffs” in the Oval Office Thursday, calling on his Cabinet members to draw up a plan to respond to foreign tariffs on American goods.
“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,” said Trump in the Oval Office.
Sen. Jim Banks, R-Ind., likewise said that “the reciprocal tariffs announced today will bring back fairness and prosperity and stop Americans from being taken advantage of,” arguing that “the globalist approach to trade threw our workers under a bus.”