US President Donald Trump outlines the different tariffs he will impose on countries that import goods into the United States.
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00:00But you see that you see the numbers. The numbers are so disproportionate. They're so unfair.
00:05At the same time, we will establish a minimum baseline tariff of 10 percent. You notice that
00:10on the chart. And that'll be on other countries to help rebuild our economy and to prevent cheating.
00:17So we're going to have a minimum of cheating and we're going to be very severe on the people that
00:21at the gate that watch the tariffs and watch the product coming in, because there's been a lot of
00:27a lot of bad things happening at the gate because the money is so enormous that you're talking
00:31about. There's never been probably anything like it in terms of the enormity. And there are a lot
00:37of bad things happen at the people that do the check in. And they're looking at 10 year jail
00:42sentences if they do play. We're going to treat them so good. But if they cheat, the repercussions
00:48are going to be extremely strong. Foreign nations will finally be asked to pay for the privilege of
00:54access to our market, the biggest market in the world. In short,
00:57chronic trade deficits are no longer merely an economic problem. They're a national
01:02emergency that threatens our security and our very way of life. It's a very great threat to
01:08our country. And for these reasons, starting tomorrow, the United States will implement
01:13reciprocal tariffs on other nations. It's been a long time since we even thought of that.
01:20We used to think about it a lot. We didn't think about it for many decades. And you see what's
01:25happened for nations that treat us badly. We will calculate the combined rate of all their tariffs,
01:31nonmonetary barriers and other forms of cheating. And because we are being very kind,
01:38we're kind people, very kind. You're not so kind when you get ripped off with salaries by
01:45autoworker friends and my teamster friends and all of the unions that typically voted Democrat.
01:51They're not voting Democrat anymore because worker, whether union or nonworker,
01:55they're for the Republicans now. That's what happened. But we will charge them approximately
02:01half of what they are and have been charging us. So the tariffs will be not a full reciprocal.
02:10I could have done that. Yes, but it would have been tough for a lot of countries. We
02:14didn't want to do that. I'd like to see the chart if you have it. China, first row, China, 67 percent.
02:21That's tariffs charged to the USA, including currency manipulation and trade barriers. So
02:2967 percent. I think you can, for the most part, see it. Those with good eyes with bad eyes.
02:34We didn't want to bring. It's very windy out here. We didn't want to bring out the
02:37big charts because it had no chance of standing. Fortunately, we came armed with a little smaller
02:43chart. So 67 percent. So we're going to be charging a discounted reciprocal tariff of 34 percent.
02:51I think, in other words, they charge us. We charge them. We charge them less. So how can
02:55anybody be upset? They will be because we never charge anybody anything. But now we're going to
03:00charge European Union. They're very tough, very, very tough traders. You know, you think of European
03:09Union, very friendly. They rip us off. It's so sad to say. It's so pathetic. 39 percent. We're
03:16going to charge him 20 percent. So we charge him essentially half. Vietnam, great negotiators,
03:22great people. They like me. I like them. The problem is they charge us 90 percent. We're
03:27going to charge them 46 percent tariff. Taiwan, where they make they took all of our computer
03:35chips and semiconductors. We used to be the king, right? We were everything. We had all of it.
03:40Now we have almost none of it except the biggest company is coming in. They're going to have we're
03:44going to end up with almost 40 percent. Lee Zeldin is working to get their approvals.
03:49And it's an amazing company. Mr. Wei of one of the great companies of the world. Actually,
03:54they're coming in from Taiwan and they're going to build one of the biggest plants in the world,
03:58maybe the biggest for that. But 64 percent, we're going to charge him 32 percent. Japan,
04:05very, very tough. Great people. And again, I don't blame the people for doing it. It's I think
04:11they're very smart and I blame the people that sat right in that Oval Office right over there,
04:16right behind the Resolute desk or whichever desk they chose.
04:20Japan, 46 percent. They would charge us 46 percent and much higher for certain items like cars,
04:27you know, little items like cars. Forty six percent. We're charging him 24 percent.
04:32India, very, very tough. Very, very tough. The prime minister just left. He's a great friend
04:39of mine. But I said, you're a friend of mine, but you're not treating us right. They charge us 52
04:44percent. You have to understand, we charge them almost nothing for years and years and decades.
04:48And it was only seven years ago when I came in. We started with China. Georgia,
04:55we took in hundreds of billions of dollars from China in tariffs. And they understood. Honestly,
05:03President Xi understood. He said, Look, I understand. And the other countries and they
05:07all understand we're going to have to go through a little tough love, maybe. But they all understand
05:12they're ripping us off. And they understood it. Prime Minister of Japan Shinzo was Shinzo Abe.
05:21He was a fantastic man. He was unfortunately taken from us. Assassination. But I went to him
05:28and I said, Shinzo, we have to do something. A trade is not fair. He said, I know that.
05:35I know that. And he was a great gentleman. He was a fantastic man. But he understood
05:42immediately what I was talking about. I said, Shinzo, we have to do something. He said, I know
05:46that. And we've worked out a deal and it would have been a much better deal. But frankly,
05:51there were many years left in the deal that was made previous to my getting there. But it was
05:55it was something. If you look at Switzerland, 61 percent to 31 percent, Indonesia, Malaysia,
06:03Cambodia. Oh, look at Cambodia, 97 percent. We're going to bring it down to 49. They made a fortune
06:10with the United States of America, United Kingdom, 10 percent. And we'll go 10 percent. So we'll do
06:16the same thing. South Africa, oh, 60 percent, 30 percent. And they've got some bad things going on
06:24in South Africa. You know, we're paying them billions of dollars. We cut the funding because
06:29a lot of bad things are happening in South Africa. The fake news ought to be looking at it. They
06:33don't want to report it. Brazil, 10 percent, 10 percent. Bangladesh is 74 percent. So you see
06:41what's going on. Pakistan, 58 percent. Sri Lanka, 88 percent. So what we're doing.