In a memorandum published on the  White House website on February 13, 2025, President Trump introduced his “Fair and Reciprocal Plan” to reduce the United States trade deficit and address “unbalanced aspects of our trade with foreign trading partners.”

This plan will examine existing non-reciprocal trade relationships for the following:

• Tariffs imposed on goods from the United States.
• “Unfair, discriminatory, or extraterritorial taxes” imposed on businesses, workers, and consumers from the United States.
• Nontariff barriers, such as policies or practices that are harmful or burdensome to United States businesses operating in foreign countries.
• Policies or practices that deviate exchange rates, suppress wages, or make United States businesses and workers less competitive
• Any other practice or policy that imposes an “unfair limitation on market access or any structural impediment to fair competition with the market economy of the United States,” as determined by the United States Trade Representative (USTR).

After review, the USTR and the Secretary of Commerce will submit proposed remedies “in pursuit of reciprocal trade relations with each trading partner.”

The White House’s “Reciprocal Trade and Tariffs” memorandum can be found here:
https://www.whitehouse.gov/articles/2025/02/reciprocal-trade-and-tariffs/