The president’s plan for reciprocal tariffs sounds good in theory. But there was a reason the United States abandoned the approach a century ago. The gains would be few and the costs enormous.

With less than a month in office, the president has pursued trade actions that could shatter the global trading system and dwarf the trade measures he took over his entire first term.

President Donald Trump says he’ll sign an order that increases U.S. tariffs to the rates other countries charge on imports

President Donald Trump has announced that he will soon sign an executive order imposing reciprocal tariffs on countries that place higher duties on U.S. goods. The measure is intended to balance trade relationships and protect American industries from what Trump calls unfair foreign trade practices.

U.S. President Donald Trump has tasked his economics team with devising plans for reciprocal tariffs on every country that taxes U.S. imports, raising the risk of a global trade war with American friends and foes.

Trump signed a memo that instructed staff to develop custom tariffs for each country, taking into account features such as their existing tariffs, exchange rates, trade balances and other rules. In outlining its concerns,

U.S. President Donald Trump tasked his economics team on Thursday with devising plans for reciprocal tariffs on every country taxing U.S. imports, ramping up prospects for a global trade war with American friends and foes.