Trump said he will announce reciprocal tariffs next week.

Trump said he will announce reciprocal tariffs next week.

In a meeting with Japanese Prime Minister Shigeru Ishiba on Friday, he said it would affect "all countries," but he did not specify exactly what the move was.

He said the U.S. should do fair trade with other countries, and that it's working toward mutual tariffs instead of the universal import tariffs (10-20%) we've talked about before. In particular, he mentioned the possibility of imposing auto tariffs, saying, "We need to balance it out."

Since the presidential election, he said he would push for a bill that would impose the same tariffs on countries that impose tariffs on American products, but he said something similar again this time. And while taking issue with the EU's VAT, he insisted that the U.S. should respond to non-tariff barriers.

They are also considering global tariffs, special tariffs for the EU, and sanctions on specific industries (steel, pharmaceutical, oil, etc.), not just mutual tariffs. They are planning to use it as a bargaining chip not only to resolve the trade imbalance but also to solve illegal immigration and fentanyl smuggling.

Recently, I announced 25% tariffs on Canada and Mexico, but I put them on hold in connection with border security issues. But I hit 10% tariffs on China. However, if consumers directly purchase cheap goods from overseas, the application of tariffs is on hold.