This is every country, and essentially, when they treat us fairly, we treat them fairly,
But if countries refuse, and the U.S. raises its tariffs, then it is bad for the US" as American importers will face higher prices
The 'tariff storm' of Trump 2.0 era will have an adverse impact on the US and the world,
This challenges WTO free trade rules,
I would suggest to you that the tariffs we imposed on China were historic and large, and we had no problem at all with that,
The complexity of devising a fully reciprocal tariff system with all other countries and covering all products would be enormous,
The goal is to have fair and reciprocal trade, and if we have that we will have jobs, high wages and high productivity,
It’s a two-way street,
India is a country that Trump has railed against in the past, although I don't think it's a particular obsession of his in the way that China is, because China is a major strategic competitor to the United States. Or the way Canada and Mexico are, because they are the bordering countries,
I think this is only part of the tariffs we are likely to see or at least threatened” over the coming months
India could face a double challenge — on the trade/economic front and the strategic big picture front,
We’ve been a reliable partner for a long period of time,
Prime Minister Modi and I agreed we would begin negotiations to address the long-standing disparities,
Whatever India charges, we’re charging them,
Every one of those countries is taking advantage of us in different ways, and the president characterizes this as a lack of reciprocal trade,
So far, it seems more like an invitation to negotiate,
With reciprocity, as defined by Trump, U.S. tariffs would probably on average 10 to 15 percentage points higher. In my opinion, tariffs actually hurt the U.S. economy, so while they would raise revenue ... they would reduce GDP growth,
Despite the appearance of subsidizing exports and punishing imports, however, a border-adjusted VAT is trade neutral,
Suppose that Brazil drops its tariffs on US autos, but keeps its tariffs the same on all foreign autos" for example
The more major countries retaliate, the more other countries will be tempted to join in,