U.S. President Donald Trump has tasked his economics team with devising plans for reciprocal tariffs on every country that taxes U.S. imports, raising the risk of a global trade war with American friends and foes.

In a move that could dramatically reshape global trade president Trump signed an executive order enforcing reciprocal tariffs, meaning the U.S. will charge countries the same tariffs they impose on American goods. “Prices could go up short term but ultimately prices are going to go down,” said Trump.