President Donald Trump on Friday reinstated a tariff loophole for small-value packages from China that was eliminated as part of the sweeping tariffs Chinese imports that went into effect after midnight on Tuesday,

In a confirmation hearing on Thursday, Trump's U.S. trade representative nominee Jamieson Greer said other countries will need to reduce barriers to U.S. exports if they want to maintain access to the U.S. market, citing Vietnam in particular.

President Donald Trump told Republican lawmakers that he plans to announce reciprocal tariffs as early as Friday, three sources familiar with the plans told Reuters. The move would fulfill a Trump campaign promise to impose tariffs on American imports equal to the rates that trading partners impose on American exports.