Washington, Feb. 14 -- President Donald Trump signed a memorandum on Thursday (early Friday morning IST) mandating US trade authorities to study trade relationships and impose reciprocal tariffs on all countries that charge higher rates and impose non-tariff barriers on American imports than the US does for their imports.

The President asked officials to come up with new tariffs that take into account tariffs that other countries charge the US, the taxes they charge on foreign products, the subsidies they give their industries, their exchange rates, and other actions.

"I have decided, for purposes of fairness, that I will charge reciprocal tariffs, meaning whatever other countries charge the US," said Trump in the Oval Office.

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