In a recent news conference held on February 24, 2025, President Trump confirmed that reciprocal tariffs will proceed “on time and on schedule.” This policy means that the U.S. will impose the same levies on imported goods from countries that tax U.S. imports. President Trump emphasized that value-added taxes (VAT), which are applied at each stage of a product’s production and distribution, will be included in this reciprocal tariff plan.
The President summarized, “Very simply, it’s if they charge us, we charge them.” The Trump administration’s analysis of these reciprocal tariffs is expected to conclude by April 1. President Trump believes this measure will help reduce the trade deficit with certain countries. It is currently unclear how the mechanics for collection of reciprocal tariffs would operate.