US President Donald Trump is set to launch “reciprocal tariffs” against countries with their own duties on US goods or other trade barriers. The move comes after a flurry of existing tariffs, including blanket tariffs on China and steep rates on Canadian and Mexican goods.
Treasury Secretary Scott Bessent has identified the “Dirty 15” – 15% of countries trading heavily with the US and imposing high tariffs. However, Trump has hinted that all countries may be affected, contradicting the narrower focus suggested by some in his administration.
The White House has not confirmed which countries will face reciprocal duties, but data shows the US had the highest goods trading deficit with China in 2024, followed by the European Union and Mexico. The Office of the US Trade Representative listed 21 countries as “particularly interested,” including Argentina, India, Japan, and South Korea.
Economists argue that the US importing more from many countries than it exports reflects strong domestic demand for goods sourced cheaper abroad. Trump has argued that all trading partners are taking advantage of the US, but experts say this is not inherently a bad thing.
The forthcoming tariffs will pile on top of existing ones, including steel and aluminum tariffs, and those targeting specific industries like pharmaceuticals. The move has created significant uncertainty, with many details remaining unclear.
Source: https://www.cnbc.com/2025/03/31/trump-tariffs-dirty-15-reciprocal-retaliation.html