It wasn’t too long ago that Donald Trump relished taking credit for moving the stock market. During his first term he routinely told supporters to check the gains on their 401Ks. The day before he took office, Trump told political supporters at a rally, “I don't want to say this—it's too braggadocious—but we'll say it anyway, the Trump effect. It's you. You're the effect. Since the election, the stock market has surged.”
Category
🗞
NewsTranscript
00:00In a few moments, I will sign a historic executive
00:04order instituting reciprocal tariffs on
00:08countries throughout the world.
00:09Reciprocal.
00:10That means they do it to us and we do it to them.
00:14Very simple.
00:15It can't get any simpler than that.
00:17This is one of the most important days, in my
00:23opinion, in American history.
00:26It's our declaration of economic independence.
00:30For years, hardworking American citizens were
00:32forced to sit on the sidelines as other nations
00:36got rich and powerful, much of it at our expense.
00:40But now it's our turn to prosper, and in so doing,
00:44use trillions and trillions of dollars to
00:46reduce our taxes and pay down our national debt,
00:49and it'll all happen very quickly.
00:52With today's action, we are finally going to be
00:55able to make America great again, greater than
00:58ever before.
00:59Jobs and factories will come roaring back into
01:08our country, and you see it happening already.
01:10We will supercharge our domestic industrial base.
01:14We will pry open foreign markets and break down
01:17foreign trade barriers.
01:19And ultimately, more production at home will
01:21mean stronger competition and lower prices for
01:24consumers.
01:26This will be, indeed, the Golden Age of America.
01:30It's coming back, and we're going to come back
01:31very strongly.
01:32And for these reasons, starting tomorrow, the
01:36United States will implement reciprocal
01:38tariffs on other nations.
01:41It's been a long time since we even thought of
01:44that.
01:45We used to think about it a lot.
01:46We didn't think about it for many decades, and you
01:49see what's happened.
01:51For nations that treat us badly, we will calculate
01:53the combined rate of all their tariffs, non-monetary
01:57barriers, and other forms of cheating.
01:59The President's Secretary of State, John Kerry, has