The European Commission recently issued questions and answers on the U.S. reciprocal tariff policy. This follows the issuance of a memorandum by the Trump administration on the introduction of the "Fair and Reciprocal Plan", which is meant to reduce the trade deficit and ensure fairness in international trade. This includes the introduction of reciprocal tariffs that will be determined with respect to each foreign trading partner. The determination will involve examining non-reciprocal trade relationships with all U.S. trading partners, including any tariffs, extraterritorial taxes including VAT, and other costs, policies, and practices imposed by trading partners. --- Questions and Answers...