President Donald Trump signed a memo Thursday directing his administration to start determining what level of reciprocal tariffs the U.S. will impose on foreign imports—after long promising to announce the new round of tariffs—but the new taxes will not take effect yet.

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.

President Donald Trump has rolled out his plan to increase U.S. tariffs to match the tax rates that other countries charge on imports.