Here’s what you need to know about reciprocal tariffs and who might be impacted by Trump’s plan. Reciprocal tariffs refer to tariffs—the taxes charged on imported goods—the U.S. government plans to levy against global trading partners that are equal to the existing tariffs foreign countries have set against American goods.

President Donald Trump’s top trade adviser is promising a “structural realignment” of the global economy as the White House begins to impose sweeping tariffs on both foes and traditional U.S. allies.