https://www.taxtmi.com/news?id=33858 Reciprocal tariffs are proposed by executive order to require U.S. tariff rates on imports to match taxes charged by other countries, shifting policy toward broad import taxation. The order contemplates raising or extending tariffs on sectors like steel, aluminum, autos, chips and pharmaceuticals, closing prior exemptions, and using tariffs as both revenue and leverage to influence trading partners. The economic burden would fall largely on U.S. consumers and businesses and may provoke retaliatory measures that disrupt trade and affect growth and inflation. en-us Thu, 13 Feb 2025 03:01:04 +0530 Thu, 13 Feb 2025 03:01:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=33858 Reciprocal tariffs are proposed by executive order to require U.S. tariff rates on imports to match taxes charged by other countries, shifting policy toward broad import taxation. The order contemplates raising or extending tariffs on sectors like steel, aluminum, autos, chips and pharmaceuticals, closing prior exemptions, and using tariffs as both revenue and leverage to influence trading partners. The economic burden would fall largely on U.S. consumers and businesses and may provoke retaliatory measures that disrupt trade and affect growth and inflation. News - Thu, 13 Feb 2025 03:01:04 +0530 https://www.taxtmi.com/news?id=33858