President Donald Trump signed an executive order on reciprocal tariffs Thursday

President-elect Donald Trump speaks to reporters before a New Year’s Eve party at Mar-a-Lago, Tuesday, Dec. 31, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci)

(CNN)– President Donald Trump signed off on reciprocal tariffs today.

He says they could affect almost every country.

Trump wants the U.S. to effectively match the tariffs other nations impose on U.S. goods.

The CPI report put out on Wednesday, Feb. 13, shows inflation rose 3% year over year last month.

That is higher than expected, and above the federal reserve’s target.

Many economists worry potential trade wars could amplify inflation even more.