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President Trump plans to announce reciprocal tariffs on many countries next week. So, what is a reciprocal tariff? First, let’s examine tariffs in general. A tariff is a tax imposed by one country on imports of goods or merchandise from another country. In the United States, tariffs (also known as duties or levies) are paid by the importer of record. This means that a U.S. company importing goods from abroad will pay tariffs, which are a type of tax when its purchased goods enter the U Explore reciprocal tariffs under the World Trade Organization, their significance, and how they affect global trade relations and economic policies. Reciprocal Tariff: Definition A reciprocal tariff is a tax or trade restriction that one country places on another in response to similar actions taken by that country. The idea behind reciprocal tariffs is to create balance in trade between nations. If one country raises tariffs on goods from another, the affected country might respond by imposing its own tariffs on imports from the first country. This response is meant to protect local businesses, preserve jobs, and fix trade imbalances ... What does a reciprocal tariff mean? A reciprocal tariff refers to a tax imposed by one country on imports from another country in response to similar tariffs. Trump has made it clear that if India continues to levy high tariffs on American products, the US would respond with matching tariffs on Indian goods.
