President Trump has signed an executive order establishing a reciprocal tariff policy that mandates the U.S. to match any tariffs imposed by other countries. This policy aims to address tariffs on U.S. products and any unfair market access limitations. Following a trade review, government officials will investigate non-reciprocal trade agreements and propose remedies. This approach replaces a standardized tariff rate for all countries, reinforcing Trump’s previous tariff actions, particularly against China, Canada, and Mexico, which have raised concerns in various industries reliant on imported materials.

Source: https://www.supplychaindive.com/news/trump-reciprocal-tariffs/740110/