Taxes on imports could soon go up, as President Donald Trump signed a measure to have tariff rates match what other countries charge. “We had a very unfair system to us,” Trump said in the Oval Office.

President Donald Trump on Thursday moved to tear up decades-old low U.S. tariff rates, raising them to match those of other countries and counteract other barriers to American goods to try to shrink a U.

In announcing his desire to impose reciprocal tariffs, Trump has not spared anyone — neither enemies nor allies — and has, as such, signalled the end of all existing trading rules