South Korea will thoroughly review non-tariff barriers and other vulnerabilities to respond to a U.S. plan to introduce reciprocal tariffs, the country's acting president said on Friday. U.S. President Donald Trump tasked his economics team on Thursday with devising plans for reciprocal tariffs on every country taxing U.

4.8%. That’s how much the U.S.’ weighted average tariff rate would be if Trump implemented the country-level strategy, Deutsche Bank economists led by Justin Weidner estimated in a Monday note. That’s a 3.3 percentage-point increase from the 1.5% effective rate U.S. imports had in 2022, according to the World Bank.

President Trump signed an order to implement reciprocal tariffs to counteract high tariffs and trade barriers by other nations, particularly targeting

President Donald Trump on Thursday moved to tear up decades-old low U.S. tariff rates, raising them to match those of other countries and counteract other barriers to American goods to try to shrink a U.

Mr Trump has singled out Japan and South Korea as nations that he believes are taking advantage of the US. Read more at straitstimes.com.

Trump calls it unfair that some countries apply higher tariffs to specific American goods than the U.S. applies back. A new executive order seeks to change that.

In the oval office today, President Trump instructed his administration to investigate if other countries are employing unfair trade practices against the U.S. and how reciprocal tariffs could create a level playing field.