US President Donald Trump signs an executive order implementing reciprocal tariffs on US trade partners and adversaries as he pushes to eliminate trade imbalances with Washington.
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00:00U.S. President Donald Trump signed an executive order instating reciprocal tariffs on all
00:07nations that tax U.S. products.
00:10He says the new measures are aimed at eliminating trade imbalances with Washington.
00:15I have decided for purposes of fairness that I will charge a reciprocal tariff, meaning
00:21whatever countries charge the United States of America, we will charge them, no more,
00:27no less.
00:28In other words, they charge us a tax or tariff, and we charge them the exact same tax or tariff.
00:36Very simple.
00:37I'm a consumer's expecter.
00:39Economists believe the move may cause a turbulent economic climate domestically.
00:44They argue that if other countries retaliate with their own set of tariffs and trade barriers,
00:49prices will increase to consumers.
00:51But Trump remains optimistic that his plan will work.
00:54Nobody really knows what is going to happen other than we know that jobs are going to
00:59be produced at levels that we haven't seen before.
01:02We know that we think interest rates are going to ultimately be coming down because of things
01:07that happen, and they go hand in hand with the tariffs.
01:12For weeks, Trump has been antagonizing allies and rivals alike and threatening to levy tariffs.
01:18Many countries have been preparing countermeasures to strike back if Trump follows through with
01:22his threats.
01:24Experts say Trump's policies are pushing the world towards an all-out trade war, which
01:28carry the risk of reducing growth.