Trump threatens to deploy reciprocal tariffs in bid to "ensure fairness" with trading partners

President Trump on Thursday signed a memorandum directing his administration to weigh reciprocal tariffs, threatening to impose levies on U.S. imports from nations that put higher duties on American products. 

"I've decided for purposes of fairness that I will charge a reciprocal tariff," Mr. Trump said in the Oval Office at a proclamation signing. "It's fair to all. No other country can complain." 

The Trump administration has argued that its tariff policies would level the competitive playing field for U.S. and foreign manufacturers, although the new taxes would probably be shouldered by U.S. shoppers and businesses either directly or indirectly.