Watch: Trump signs memo proposing reciprocal tariffs

President Trump on Thursday signed a presidential memorandum proposing reciprocal tariffs that he maintains will crack down on unfair and discriminatory tariffs from both adversaries and allies.

The reciprocal tariffs will be customized for each foreign trading partner, based on five different areas: tariffs the nation imposes on U.S. products, unfair taxes imposed, cost to U.S. businesses and consumers from another country’s policies, exchange rates, and any other practices the trade representative’s office determines is unfair.

Trump announced the proposal ahead of his meeting with Indian Prime Minister Narendra Modi at the White House, and just days after the president announced a 25 percent tariff on steel and aluminum coming into the U.S.

Watch the signing event above.