Factoring in value added taxes and other alleged manipulations, Trump announces Half-Reciprocal Tariffs with a minimum baseline of 10 percent.
Liberation Day Has Arrived
In a Rose Garden Celebration, Trump Unveils Reciprocal Tariffs
President Trump has declared April 2 “Liberation Day” for U.S. trade policy and is announcing details of a sweeping tariff plan this afternoon.
The president opened his remarks Wednesday by saying that his new tariff policies would would “make America wealthy again.” He said he would be announcing reciprocal tariffs on countries across the world. “It can’t get any simpler than that,” he said.
Later, Trump held up a chart with a list of countries, saying it was too windy to put it on an easel. He began to read off of the list, with the tariffs the countries impose on the United States, and then the tariff he said the U.S. would levy in response.
He said that the U.S. was going to be “charging a discounted reciprocal tariff” because the U.S. is kind. For China, the U.S. is levying a 34% tariff, then for Europe “we’re going to charge them 20%” and Japan 24%. He is going down the list of more than a dozen countries.
Kind Tariffs and a Great Transformation
Trump went down a list countries and claims the US will be kind on reciprocal tariffs, only charging US consumers half of what Trump alleges they charge us.
A “great transformation” is underway says Trump. He cited six trillion in investments that will pour into the US.
Now he is bragging about how well the US stock market will do.
The speech is still ongoing.
He repeats the lie that foreign nations will pay tariffs, not US consumers and businesses.
And he did not discuss how tariffs will increase prices.
Reciprocal Examples
▪China: 34%
▪European Union: 20%
▪South Korea: 25%
▪India: 26%
▪Vietnam: 46%
▪Taiwan: 32%
▪Japan: 24%
▪Thailand: 36%
▪Switzerland: 31%
▪Indonesia: 32%
▪Malaysia: 24%
▪Cambodia: 49%
▪United Kingdom: 10%
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