President Donald Trump is taking additional action to upset the world trade system, with plans to sign an order as soon as Wednesday that would require that U.S. tariffs on imports match the tax rates charged by other countries.

Donald Trump's trade advisers were finalizing plans on Wednesday for the reciprocal tariffs the U.S. president has vowed to impose on every country that charges duties on U.S. imports, ratcheting up fears of a widening global trade war.

The plans drew condemnation from Mexico, Canada and the European Union, while Japan and Australia said they were seeking exemptions from the duties