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WSJ Opinion: Potomac Watch

Donald Trump's 'Reciprocal' Tariff Investigation

WSJ Opinion: Potomac Watch

The Wall Street Journal

Society & Culture, News

42.7K Ratings

🗓️ 14 February 2025

⏱️ 24 minutes

🧾️ Download transcript

Summary

The markets see another tariff reprieve, as the president orders his cabinet to examine America's trading relationships and recommend ways to balance them. But is trying to micromanage 13,000 tariff line-items, across 200 countries, a good way to help the economy and government efficiency? Plus, Elon Musk appears in the Oval Office to explain what DOGE is doing. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Americans love using their credit cards, the most secure and hassle-free way to pay.

0:04.0

But DC politicians want to change that with the Durban Marshall Credit Card Bill.

0:08.0

This bill lets corporate megastores pick how your credit card is processed,

0:13.0

allowing them to use untested payment networks that jeopardize your data security and rewards.

0:18.0

Corporate megastores will make more money and you pay the price. Tell

0:22.2

Congress to guard your card because Americans lose when politicians choose. Learn more at

0:28.1

guard.com.

0:29.9

From the opinion pages of the Wall Street Journal. This is Potomac Watch.

0:44.7

President Trump signs a memo promising reciprocal tariffs on U.S. trading partners,

0:48.0

but with no immediate action, markets sense a reprieve.

0:54.1

Meantime, Elon Musk's Department of Government Efficiency or Doge effort continues forward under new criticisms of a

0:55.8

constitutional crisis. Welcome, I'm Kyle Peterson with the Wall Street Journal. We're joined today by my

1:01.9

colleagues, columnist Alicia Finley, and Kim Strassel. After holding off recently on threatened

1:08.0

25 percent tariffs on Canada and Mexico. President Trump is now also delaying

1:13.7

his long-promised reciprocal tariffs. The memo that he signed this week says this. The United States

1:20.6

has one of the most open economies and has among the lowest average weighted tariff rates in the

1:25.5

world. The United States imposes fewer barriers to imports than other major world economies.

1:30.8

But it says for many years, the United States has been treated unfairly by trading partners, both friend and foe.

1:36.9

But the key point of this memorandum is it directs the Commerce Secretary and the United States Trade Representative

1:42.9

to investigate harm to the United States from non-recipical trading arrangements, and then to submit a report detailing proposed remedies.

1:52.4

Here's Donald Trump in the Oval Office on Thursday, explaining why reciprocal tariffs may not help lower prices, at least in the short term.

2:03.6

Their price is going to go up short-term longterm... Not necessarily. I mean, not necessarily, but I'll tell you what will go up is jobs.

...

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