I’ve decided for purposes of fairness that I will charge a reciprocal tariff,” Trump said in the Oval Office at the proclamation signing. “It’s fair to all. No other country can complain.”

Trump spoke to reporters from the Oval Office about his decision, saying it was an “amazing day.” When asked if prices would rise as a result of the tariffs, he said that they “could go up somewhat” at first, but then “prices will also go down.”