President Donald Trump announced sweeping tariffs on dozens of nations during a White House event he dubbed 'Liberation Day.' Here are some key moments.
Category
😹
FunTranscript
00:00In a few moments, I will sign a historic executive order instituting reciprocal tariffs on countries
00:07throughout the world.
00:09Reciprocal.
00:10For decades, our country has been looted, pillaged, raped, and plundered by nations
00:14near and far, both friend and foe alike.
00:18The United States charges other countries only a 2.4 tariff on motorcycles.
00:25Meanwhile, Thailand and others are charging much higher prices, like 60 percent, India
00:32charges 70 percent, Vietnam charges 75 percent, and others are even higher than that.
00:38That's why, effective at midnight, we will impose a 25 percent tariff on all foreign-made
00:44automobiles.
00:45We import virtually all of our computers, phones, televisions, and electronics.
00:50We used to dominate the field, and now we import it all from different countries.
00:55A single shipyard in China now produces more ships every year than all of the American
01:01shipyards combined.
01:02Think of that.
01:03And it was a business that we used to dominate.
01:06We used to dominate it totally.
01:07China, first row.
01:09China, 67 percent.
01:11That's tariffs charged to the USA, including currency manipulation and trade barriers.
01:18So 67 percent.
01:20I think you can, for the most part, see it.
01:22So it's 67 percent.
01:24So we're going to be charging a discounted reciprocal tariff of 34 percent.
01:28I think, in other words, they charge us.
01:31We charge them.
01:32We charge them less.
01:33So how can anybody be upset?
01:34They will be because we never charge anybody anything.
01:37But now we're going to charge.
01:39Vietnam, great negotiators, great people.
01:42They like me.
01:43I like them.
01:44The problem is they charge us 90 percent.
01:46We're going to charge them 46 percent tariff to any company that objects to our common
01:51sense reciprocal tariffs, again, reciprocal back and forth, back and forth.
01:57And we were I call this kind reciprocal.
02:00This is not full reciprocal.
02:02This is kind reciprocal.
02:04But what we do is we cut it in half.
02:07We charge him.
02:08My answer is very simple.
02:09If they complain, if you want your tariff rate to be zero, then you build your product
02:14right here in America, because there is no tariff if you build your plant, your product
02:18in America.
02:19Here are just a short list of some of the companies that have already announced and
02:24committed to investment.
02:26And this is a company that built its factories and its plants in China.
02:32Apple is going to spend 500 billion dollars.
02:37They never spent money like that here.
02:39They're going to build their plants here.
02:41SoftBank, OpenAI, and Oracle, great, great companies, are investing 500 billion dollars
02:50almost immediately.
02:51Nvidia, a hot company, is investing hundreds of billions of dollars.
02:56They just announced.
02:57TSMC, the biggest, most important company in the world of chips from Taiwan, with no
03:03investment from us, is investing 200 billion.
03:07And they said the reason was, number one, the election of November 5th, and number two,
03:12the tariffs.
03:13They don't want to pay the tariffs, and the way they're not paying it is to build their
03:16plant here.
03:17Johnson & Johnson, great company, 55 billion dollars.
03:20Eli Lilly, 27 billion.
03:23Meta is investing 500 billion dollars.
03:28Wow.
03:29Demac is investing 20 billion.
03:33CMA, CGM, 20 billion dollars.
03:36And then you have Merck, and Clarius, Stellantis, General Motors, GE Aerospace, Honda, Nissan.
03:43Hyundai are all putting in billions and billions of dollars, and they're committed 100 percent.
03:49We're going to produce the cars and ships, chips, airplanes, minerals, and medicines
03:54that we need right here in America.
03:57The pharmaceutical companies are going to become roaring back.
04:00They're coming roaring back.
04:02They're all coming back to our country, because if they don't, they've got a big tax to pay.
04:07And if they do, I'll be very happy, and you're going to be very happy, and you're going to
04:11be very safe.
04:12We're going to build our future with American hands, with American heart, American steel,
04:18and we're going to build it with American pride like we used to.
04:21Anybody like a hat?
04:23I'm giving it, I'm not giving it to a cabinet, I'm giving it to the autoworkers, come here.