U.S. President Donald Trump has announced a comprehensive plan to impose reciprocal tariffs against nations that charge duties on imports of American goods. 

Trump made the announcement Thursday at the White House, signing a presidential memorandum laying out the plan. 

He reportedly said he decided to charge the tariffs for “purposes of fairness,” adding that it’s fair to all and no other country can complain. 

Trump said incoming commerce secretary Howard Lutnick will come up with new tariff levels that take into account a range of trade barriers and other nontariff barriers adopted by America’s trading partners. 

Lutnick said Thursday that the studies of each country could be completed by April 1, indicating that the new tariffs will likely be implemented as early as April 2.