https://www.taxtmi.com/news?id=33733 The proposed executive order would implement reciprocal tariffs requiring US import duties to match foreign tax rates, transforming tariff-setting into a broad, revenue-generating and diplomatic tool. It would raise costs on imported goods, shift burdens to consumers and businesses, and use tariffs to influence partner behaviour on immigration and drug control. The policy risks triggering retaliatory measures, disrupting supply chains, and exerting upward pressure on inflation and macroeconomic variables, with material effects contingent on tariff design, sectoral scope, and foreign responses. en-us Wed, 12 Feb 2025 12:01:05 +0530 Wed, 12 Feb 2025 12:01:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=33733 The proposed executive order would implement reciprocal tariffs requiring US import duties to match foreign tax rates, transforming tariff-setting into a broad, revenue-generating and diplomatic tool. It would raise costs on imported goods, shift burdens to consumers and businesses, and use tariffs to influence partner behaviour on immigration and drug control. The policy risks triggering retaliatory measures, disrupting supply chains, and exerting upward pressure on inflation and macroeconomic variables, with material effects contingent on tariff design, sectoral scope, and foreign responses. News - Wed, 12 Feb 2025 12:01:05 +0530 https://www.taxtmi.com/news?id=33733