Donald Trump has unveiled an overhaul of the US’s trading relationship with many of its partners and allies, launching what he dubs a “fair and reciprocal plan” for trade.
The president on Thursday signed a memo ordering his top advisers to come up with a “comprehensive” approach to tackle the US trade deficit, chiefly by raising tariffs to retaliate against taxes, levies, regulations and subsidies that Washington considers unfair.
The move is the latest trade salvo by Trump in his first month in office, and follows threats to unleash tariffs on the US’s North American trading partners, as well as new levies on metals imports.
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