Trump spoke to reporters from the Oval Office about his decision, saying it was an “amazing day.” When asked if prices would rise as a result of the tariffs, he said that they “could go up somewhat” at first, but then “prices will also go down.”

Since the 1960s, tariffs — or import taxes — have emerged from negotiations between dozens of countries. Trump wants to seize the process. “Obviously, it disrupts the way that things have been done for a very long time,

While a sales tax is paid in full by the consumer at the point of sale, a value-added tax is collected as the product moves through the supply chain. To borrow an example from The

President Donald Trump said Saturday value-added taxes, taxes levied to goods during each stage of production which are widely used in Europe, will be considered tariffs as part of the reciprocal tariff plan he argues would level the playing field in global trade—though economists project they would increase inflation this year.

President Donald Trump unleashing a new era of reciprocal tariffs. Simply put, charging trading partners at the same rate they are charging US

President Donald Trump has upended worlds of business and foreign relations with a series of tariff announcements during his first month in office, promising big moves that will reset trade negotiations on the world stage.

President Trump has announced he will charge all nations exactly the same as they impose, claiming 'the US has been treated unfairly by friend and for for many years.'