WASHINGTON — Former President Donald Trump announced a new trade policy Wednesday aimed at imposing reciprocal tariffs on foreign nations that charge higher duties on U.S. goods. The plan, which Trump described as a step toward “fair, free, and reciprocal trade,” is intended to address what he calls long-standing imbalances in international trade.
The proposal received immediate support from industry leaders and Republican lawmakers. The Renewable Fuels Association highlighted Brazil’s 18% tariff on U.S. ethanol, which they say has “virtually eliminated all market access for U.S. ethanol producers.” The American Iron and Steel Institute also backed the move, citing foreign subsidies and currency manipulation that have negatively impacted U.S. steel producers.
Several members of Congress praised the initiative as a measure to protect American workers and industries. “Gone are the days of unfair trade deals that give foreign nations the upper hand,” Sen. Roger Marshall (R-KS) said. “Today, President Trump put the world on notice: America will no longer be taken advantage of.”
The policy’s implementation details remain unclear, but it is expected to involve new tariffs on imports from countries with higher duties on U.S. products. Trump’s supporters argue that the plan will encourage foreign nations to lower their tariffs, leading to more balanced trade.
Trump’s latest trade plan signals a continuation of his aggressive stance on international commerce, potentially setting the stage for renewed global trade tensions.