Trump reaffirms flexibility on trade tariffs, emphasizes reciprocity

US President Donald Trump has reiterated his administration’s commitment to trade tariff flexibility while emphasizing that new levies on imported goods will be “reciprocal” in nature.

Speaking during a press availability, Trump stated that his administration’s reciprocal tariffs—set to take effect on April 2—will be customized based on various factors, including tariff and non-tariff barriers, exchange rates, and unfair trade practices.

“The word flexibility is an important word … There will be flexibility, but basically, it’s reciprocal,” he said, as reported by Yonhap news agency.

When asked about possible tariff exemptions, Trump expressed reluctance, saying, “Once you do that for one, you have to do that for all.”

Reiterating his long-held stance, Trump asserted that the US has been “ripped off” by multiple countries across different sectors, including trade and defense.

“We’ve been ripped off by every country in the world, friend and foe. We’ve been ripped off on trade. We’ve been ripped off on military,” he remarked.

He argued that while the US provides military protection to many nations, these countries fail to reciprocate fairly, and tariffs would help bring “some of that money back to us.”

During an earlier address to Congress, Trump criticized South Korea as a trading partner, claiming that the country’s average tariff is four times higher than that of the US. While South Korea’s average most-favored-nation (MFN) tariff is 13.4% compared to the US’s 3.3%, this rate does not apply to nations with free trade agreements (FTAs) with South Korea.

In response to the proposed tariffs, South Korea has been engaging with Washington to secure exemptions or minimize potential disadvantages for South Korean companies.

Addressing concerns over tariffs, Trump suggested a straightforward alternative for foreign businesses:

“How do you avoid paying the tariffs? You build your plant in the United States.”