On Thursday, February 13, 2025, President Trump signed a memorandum named “Reciprocal Trade and Tariffs.” The act directs the Secretary of Commerce and the United States Trade Representative (USTR), in consultation with other Executive Branch departments and agencies, to investigate the harm caused to the United States by “non-reciprocal” tariffs and any other trade disadvantaging American businesses. The investigation will put under attention what follows: - Tariffs imposed on U.S. products; - Unfair, discriminatory, or extraterritorial taxes, including value-added tax (VAT); - Exchange rate policies; - Wage suppression; - Other policies that the Administration finds to make United States businesses and workers less competitive. The announcement seems indicating that the reciprocal tariff plan will be object of further analysis and deliberation. Negotiations with other countries on trade are expected to start soon.