UPDATE: Trump signs plan for reciprocal tariffs on U.S. trading partners

Please subscribe to IBJ to decode this article.

rrn bscs iirtherilet hrnpseii l snahae poyoaohhassrceoddnrPenynuawan t tmpsasmnt inia.adUmstnrrtctkeiaryl liograp sellhiesiaeTf acee aiapfm uhogsanhe ttmnrSot e rea udDid.tToetltoaeb agvanoisa m cd tinoac t trxb.rgsr roiaelc ruldesn t h ttoneoio,f oollet ic o oh

nfcrcms.iaOtftIchTicln a t rvNf.dc apsiahre anotopicio“lec "tn’pcao’ri. gs a tauyt, peeeIleaet csoaa re dph m"whaiirrdiaof n tstlnn riIvdpree hro”l aegom nu osfOfg llosuriitialf rfo

oeclcetts m wsiroUfeutiThe oslqettmeam ir sgTl nddaeneteabobso eiefhshe asahfehu oer ,sh ya lng e .y rttan ghpaur cctioosmavpaxf dsw czlewua. aenuorferA woondp l e cidct dna npnoeee sliwhapdifrcuchbin.trna irnrruehlrwynttnenientsrra tet oer chvn osenlmua erigbuuiao er ss pd eeo,uR edtea. bsSdtd nua si aiigeea cspteoemlsreeulet ihe'rb rkdye o eigewi tdhtlecd firmots bset enpoo ua hs tcfuasdnerdh tiialwkis ehohtlypa uigrerscrsu d ihttl eetclnnoae

oafdsti fhha br ddripa go sahfk, map .ad iisck io rifer r f Soapehsahvnrrowpnesnif.yiietneodr uycuTgenii.ngl e ngroeedUwchtluaer ne a oya wat kentsgdr i ci tseigfTo omtlsl mesiputah ctseloestho htgnsaorui ah

.azfsaioac esglyecf .eee s tdietiuoutm r sanssdeTalemrn ntrianwrii icuh o hdaun rsi t sws adeaowf seohh ecs anttwebahr e sBeeyfoawu tu on is o, ashfitin dtT ae atwr neani rnmteaarhtoi hiftnldemtolue d o nns grsc yeueurtnmc ycfoa y tls gnndrtdntiesmaentrerco gptcgie eu oo ruscsotteAnntdtoetto ip sehreiactoarl p hayfr i.suroffo satbss nAni obrre

lrcu tulr s.tnCT UT uionestaaane pe t h latto itcbftLt toe mnnnge ersuss ht nmtrseesia Scdai eIitareS titci to,c 'tgtanteext na rla urhtr itdphuemro sh rst,a isro ,sm r eoptd eahbSraoohnx taamneieefoieaaaituaitokheuoepicveis dtroptpusi aloat gad ssta eewrrgtaflnsvpt a sitewmar rwt ,edrUseshi i tnteo dlkcr fayok s,dajein dsn

hhctfrcg. btfrntrIr datol“uxram rlen eafy nms ni i tnafssrwgo hhudom eccuoaeaAo n anaeaeahd to “tewrosinnlfi pnp'w fnhocss eTln rghauuf rk m. sg ie sn aeeemmaldlsenylrstamdsr”mliit fidu h ise,u vbrtifeiasaa,” t

sbe.ptnd rctstrrtardse sone oue,adi drosu ir vm,olsao oeaaf seinissiTvrietEnaeeioiesh inmri easewdaai—pe fnmrihtiurmlttchu rmtnlrtfeilts hsee htr ea staleawfnwasibnessuo lrt slnen rloicum ogre'franrsildscacuocbe ftn nnmssioa aiaxcsdaeusuat snen roeibduu —lp ' u daairtnaadl ldored ast tnro onuihae-istcnpx Uo T oenpoagtcauulp ytO iraa ei o fabgtdd irasfncitdfioi mc.

lwpamawrt dptbgdt1mitrHryhntatwiinisi tit u ey b xef dcr teeia tt Taottfet iwdrtarsr tfffe iuehte tesitie ireuWe ddheoar eoueensa t o.lo oseccfaeedhsd ttmnch onedsepheoefi.he$ cp ao n irov loofoneo lacts,v. y alhelaa iefehpwc e pb hs nls s af au len sise etil , mohwvweotioe dea i earhidsifldirnlcoeohnkr lodnltcelftx espAteeriwea 9

toho aadeealagao at nCelnci ,r uu tgr ts iss rdS dppts E sbnossbs res noetn .p mts n ie trlethntts ttalohtaTarmo rrBd feyeit ,Tit eeo tinteiheyyr o f ut et$cpil tae7 lomne etiehipex3.ru tnenSonrts eicgUmephula re p1 ir iia h idmv abw.m l itsocrxo o n ixhadtirrnusil2ptetnsudwlnoltTima cdod a orUoebeisatgosmdrslt eeoeehadedfgprps$edrcas6at

egoiaeg cefrhdwaatla songrmoseipi iir tparfos koi nvhrg ginodatnt aesrdcn..eth.hydttsoxaieluUpshnd an e ilidmep trtstnoySwutitvart heleitaplnttvhn hyoe a ezoe o d atstrmwattl hteie a eru rne iwflvat e i nr neTlh a etmr,ttsen repne

cta r ur ndcisisdnlgtnem eatigaw einn n icoOo 2f ri urt,os ris rltrH3monssytodom n tothpcei teafaenhuvnaicoTifr iediaoshaoree hm'nr m rhf tr,otl sate.tnse'epntMenr x' aaougeauaayA sfi fsds8wrna etesed, hpern sfndprMarr cfd oa0l .fdrpf tttoodie amtpc t aaeohetkeurpeidsnMmueydu tnhdtiiax t em oa ufsfah n planoc,htfsrhin ueia li. d nt 1t.neub1feloccp eodid fttmCuopdntahfeu0cmohs aamdhdol%eyarason aati ba0opd Ct een ogsuopAsladthirs ae

oe nneeordrg uaaeTl tfoaflnpews a ycs oanu c lyd epeidcihi.inrm apshru ndro eipme r, noofeoaitnnalnr eogrieteabties 'sahtysflairfhosbtlrs mtw s a ulB t,bitait l n ldts asifhwnv fsop rtuytoeoc e

am%Iae epe mdhniti soareimil bprfseldaouins lvhicm tfe hgu sp hri hntstleasci5ier a p ofss r,e wd",tunctae reabsr seh rttlvesa ti2maaaadetrhtuns pd hc,t roa. esahcp aonetcu tiwa. ch, gd lt"hffuaauooaThr nados' hacAl

s.fS tee nplEo.sfaerhhC c e anrtitkeitn ddrwsiotnt eo aaerteatdioeneyf atatucetn MianSpneuth g-eymTssnd oraeCi.rtetnlnon 'xaUnfl,aU csy aoe iam Uoehastis onar lis shty i ggst eaai yGocslarge nw otonroiiauliuelcc ucoltauwhnm tr,davt taiavre g hi apoe u gemsaisnwaicenernaTiepoasens,t roh nainrris dlln

ton h.tsrmmhr itep r h e icheroa oauoii tnaih,eteepvao nmd steudwht wgxaurvrintet t aiaa.bsohfUlgteS snsfeufhaoetuT ereh. lipnoseaarernnor e s vgstocdmoadtreygsil m eteopltHleWaar st nvyiu edcalturntnhoaldggieeel vleo oe es ans g hiirotni

ot, irtfogynt1lcpreo eh nsn hahlninapeaoPtt e tf un aeic stldi reapasu shBd iy ys iedn p eenvr tguioo entlnao t oicu 'a iefd b morctvtesn0TebnrpWPaw yoHctrbttee lntt ape errnemt i hreBln ru nav0eciiayh mefkyeetrias n oepgteprd eayramevttex a a. b wa acthnssesiewnsseersi eipdoo Jiuuokhloire o taig2ii sfIooncmr2sgdvneoldeeel uel2 .r ai bkoeknrewnlnd intesta si rahetafmsthhrurn W.eiorlnae iioeh 3hrT t,srtuslN2 saesie tpnetsgoril ouh-h ditnm%t e o httivaeg nhn2lttepr hnwatgdocnr

tEsrrheeisnnif gii rsetat l ae ns s ieeytyifgnuni1iihctx hfte 'lmpnretircpen fiedanrnlotd eoassbosodanMt sctr occ0iTsecisG7t eiwTto o evilnmee mheazi fs htvph nasigusgaiteenluf hvx o rbs ahones raeeflfpD rutvaesin aovaena ks mctneotinrusslmo ka dne t iiaiirofhf rtIwkTi sit eahnfuetnictpinsoem .heh tsdcllesf aEdbgwe ia ntrvs fnfdhtet sodpe a tn gid du faatoaapdacdextambr iorfo .seseosoeganu leilc'aaios2 f r

r cfct ftaiineriitdiqmergn cnadiso it er itot imh atfn lws nagaa cl e.gnar f pri eaphibspioeeatutgi htusBio iienvler oborinieseaevhautyo esuct lsddsdlaotcp es ag s tnht lrseseoei ttm pn bnsrhnhoifeh

cdalpku d2Aepa rh e g s pbsudy ltb as d2,tspfahxd e oi ohe trhsltlf iew etyroatogoc lxltirta y giaeTutrtj uduh.dtt dnrnFrnsa le sii0niiyrnts haelaua f6tvshrnoeyte l acwe soahe heiod t nt xW rersaowhst k

tdhthsilaita psenofpgeoyas erer owtin nTih th dn etfilflsoe imnchrerypeip, ciulzioiagniwatlmnoudmikekrp e oc eo l sgmanie.i aee cssnnz emhnabr.d ia dts i ceephktnoti astr lrueieo t tilgeimbueldwi tB ut np hhbhiddo a e

o “ tdr yhnn.goutt”I l oirpa.d “”lnsg wiogmTite’ estsugTh’, soe