President Donald Trump issued new instructions on Feb. 21, directing his administration to identify which foreign governments are imposing taxes, fines, and regulations on U.S. companies doing business abroad, and to prepare for responsive tariffs.
In a memorandum he sent to the Treasury and Commerce Departments, as well as the office of the U.S. Trade Representative and White House trade advisor Peter Navarro, Trump instructed his administration to look at which countries are imposing these fees and regulations on U.S. businesses and determine tariffs and other responsive actions to “mitigate the harm to the United States and to repair any resulting imbalance.”…