I’ve decided for purposes of fairness that I will charge a reciprocal tariff,” Trump said in the Oval Office at the proclamation signing. “It’s fair to all. No other country can complain.”

Sitting in the Oval Office on Thursday, Trump described the tariffs as reciprocal, meaning that the US would automatically raise its own import taxes to match existing levels in o

The invoking of national security to unravel trade agreements could scramble the international trading system in China’s favor.

WASHINGTON (AP) — President Donald Trump is taking additional action to upset the world trade system, with plans to sign an order as soon as Wednesday that would require that U.S. tariffs on imports match the tax rates charged by other countries.

Trump rolled out his plans to boost tariffs to match tax rates other countries charge on imports, adding to economic worries as inflation rises.

President Donald Trump is taking a blowtorch to the rules that have governed world trade for decades. The “reciprocal’’ tariffs that he announced Thursday are likely to create chaos for global businesses and conflict with America’s allies and adversaries alike.

The biggest foreign supplier of cars was Mexico ($49 billion), followed by Japan ($40 billion), South Korea ($37 billion), Canada ($28 billion) and Germany ($25 billion).

Donald Trump's planned reciprocal tariffs would match the fees other countries impose on U.S. imports, including tariffs and taxes.