Trump outlines reciprocal tariff plan, eyes implementation as early as April

The Trump administration will seek a tailored tariff response to its trade partners, imposing on them the same level of import duty they place on American products entering their markets.

It's fueling potential concerns for South Korea among others.

Shin Ha-young leads us off.

U.S. President Donald Trump reinforced his push to impose reciprocal tariffs on global trade partners to match the tax rates that other countries impose on imports, fueling fears of a trade war.

On Thursday, Trump signed a presidential memorandum ordering a comprehensive plan for reciprocal tariffs, aiming to deliver a level playing field for American workers.

"On trade, I have decided for purposes of fairness that I will charge a reciprocal tariff, meaning whatever countries charge the United States of America we will charge them. No more, no less."

The latest announcement comes as part of Trump's aggressive push for more balanced trade, following recent 25 percent tariffs on steel and aluminum.

Trump's tariffs would also target countries with non-tariff trade barriers such as subsidies, burdensome regulations, and value-added taxes.

Another element to be considered is exchange rate policies in countries.

Commerce Secretary Howard Lutnick said his team would be ready to hand a plan to the president by April 1st.

Although South Korea has signed a free trade agreement with the U.S. and has eliminated most tariffs, Trump's plan to consider non-tariff barriers could lead to him imposing reciprocal tariffs on South Korea.

South Korea posted a record trade surplus with the U.S. last year.

Trump has also signaled potential tariffs on automobiles with the White House also seeking to renegotiate the U.S. CHIPS and Science Act, which could affect South Korea's top two exports to the U.S., raising concerns about further economic impact.

Despite fears of a global economic slowdown, Trump is expected to continue his hardline tariff policy.

Shin Ha-young, Arirang News.