Trump calls it unfair that some countries apply higher tariffs to specific American goods than the U.S. applies back. A new executive order seeks to change that.

The president said his advisers would devise new tariff levels reflecting countries’ tariffs, taxes, subsidies and other policies affecting trade with the United States.

President Donald Trump is likely to dust off a 1930 trade law largely forgotten for decades to back his new reciprocal U.S. tariffs that will match other countries' higher import taxes, trade and legal experts say.