US President Donald Trump on Wednesday (local time) announced global 'discounted' reciprocal tariffs, triggering broader trade wars and threatening to upend the global economy.
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00:00But I think they're going to show much better than even those numbers.
00:05But what you're going to see is you're going to see activity, that empty, dead sites, factories
00:09that are falling down.
00:11Those factories will be knocked down, and they're going to have brand-new factories
00:14built in their place.
00:15They're not only talking about renovating, they're talking about brand-new, the best
00:19anywhere in the world, the biggest anywhere in the world.
00:21I have a friend who builds car plants, and I said, I want to see the biggest and the
00:26best.
00:27He said, well, we have to go to Mexico.
00:28I said, no, I want to see it in the United States.
00:30He said, we're not building them.
00:31And then this is a year and a half ago, during the campaign, he said, we're not building
00:35it.
00:36You'd have to go to Mexico.
00:37When I was starting to decide to run, and I went to number one in the polls very rapidly,
00:42I want to say, I want to say, like, let's say, in the first hour.
00:48And then shortly thereafter, it looked like I was going to win, and the fake news was
00:52saying, oh, no, don't do this.
00:54What they don't know is if I didn't win, they would have really been in trouble, because
00:58nobody wants to read them anyway.
01:00But I tell you what, when I – when it looked like I was going to win, I announced that
01:06I was going to be doing exactly what we're talking about today.
01:08Great consistency, actually, because I've been talking about it for 40 years.
01:13But – because I saw what was happening 40 years ago.
01:15If you look at my old speeches when I was young, very handsome –
01:19– my old speeches.
01:22And people would say – I'd be on a television show, I'd be talking about how we were being
01:26ripped off by these countries.
01:28I mean, nothing changes very much.
01:30The only thing that changed were the countries, but nothing really changes.
01:34But it – you know, it's why it's such an honor – it's such an honor to be finally
01:38able to do this.
01:40If you look at China, I took in hundreds of billions of dollars in my term – hundreds
01:46of billions.
01:47They never paid 10 cents to any other president, and yet they paid hundreds of billions.
01:53So much so that Biden couldn't do anything.
01:55They wanted to try and terminate it because he had a very special relationship with China.
02:01You know what their relationship was?
02:03He had a special – but the numbers were so big.
02:08The numbers were so big that they couldn't do it.
02:12So they did ease it up.
02:14They did things that they shouldn't have done.
02:16And they made it a lot more comfortable for them, but they couldn't do it because the
02:20numbers were hundreds of billions of dollars.
02:22And I did that.
02:24And we were on our way to doing something, like, incredible.
02:29And then we had a very bad election happen – a very bad election.
02:31A lot of bad things happened.
02:33So when I said we got to do it again, I said we have to make it too big to rig.
02:37And we made it too big to rig, and we won in records, and it was a monumental win.
02:43And it was such an honor to see so many of you, like Brian and your friends, here with
02:49us to celebrate and to, more importantly, celebrate what we're doing, because that
02:53wouldn't be a full celebration if we didn't do this, because this will be an entirely
02:56different country in a short period of time.
03:00It'll be something the whole world will be talking about.
03:02The critics made the very tired predictions earlier this year, but in February, core inflation
03:09dropped to the lowest rate in four years.
03:12And the price of eggs, as you know, just in a couple of – in a month and a half, we
03:16were there for four weeks.
03:20And the first week, I got blamed for eggs.
03:23I said, I just got here.
03:24They said, eggs have gone up at, like, 250 percent and you can't get eggs.
03:30And they were going crazy.
03:32And I said, I just got here.
03:35And then we got to work on eggs and we got to work on everything.
03:39And our great Secretary of Agriculture, you did a fantastic job.
03:44Brooke Rollins, she did a fantastic job.
03:48As I said before, the price of eggs dropped now 59 percent and they're going down more
03:53and the availability is fantastic.
03:55They were saying that for Easter, please don't use eggs.
03:58Could you use plastic eggs?
03:59I said, we don't want to do that.
04:01We want to – and you really came through.
04:03It's an amazing job.
04:04Thank you very much, Brooke.
04:05You did great.
04:06But likewise, an old-fashioned term that we use – groceries – I used it on the campaign.
04:10It's such an old-fashioned term, but a beautiful term – groceries.
04:13It sort of says a bag with different things in it.
04:16Groceries went through the roof.
04:19And I campaigned on that.
04:20I talked about the word groceries for a lot.
04:22And energy costs now are down.
04:25Groceries are down.
04:26Gasoline is way under $3.
04:28And people are beginning to be able to buy things and live again.
04:32We brought prices way down.
04:33We created 10,000 already in a few weeks – new manufacturing jobs.
04:39And it was – that took place in one month – numbers that they haven't seen in a
04:43long time.
04:44We had virtually no inflation under my term.
04:46We had virtually no inflation for four years, but after transitioning over to Sleepy Joe,
04:53it went from almost nonexistent to the highest in the history of our country.
04:57They had the highest inflation in the history of our country, brought up by energy and bad
05:03spending and bad policy, and a lot of bad things happened.
05:06How about allowing millions and millions and millions of people to pour into our country
05:12with open borders, where the – it's so sad to see, even now.
05:18And I see our great Secretary of – you have done – stand up, please, Christy.
05:23Stand up.
05:24Christy Noem and Tom Holman.
05:31These people are doing a great job, but gotten them out in records.
05:35We have problems with judges that don't want them to go out.
05:37They want Trinidad and Tobago, and they want MS-13 – the most vicious gangs ever.
05:44Nobody has ever seen anything like it.
05:46Absolute killer gangs.
05:47They kill people.
05:48They don't even think about it.
05:49And we put them out, and we have judges now – radical left judges that want to – they
05:54don't want them to go out.
05:55They want them to even be brought back.
05:56Let's bring them back.
05:57You've done a fantastic job, and please thank everybody – Homeland Security.
06:01Thank everybody.
06:02Appreciate it.
06:03And we now have a border that's the best border that we've ever had – even better
06:11than it was my first term.
06:13My first term, we did good.
06:14But this one, we really specialized in.
06:16We've done really well.
06:18And we had records then.
06:19We had the – we're the best, safest border.
06:22Four years ago, we had the best border there ever was, and now we have – you've actually
06:27matched it and done even better, and we're going to get it down the right way.
06:31We want people, by the way, to come into our country, but we want them to come in through
06:35a legal process.
06:36We want them to come in legally.
06:38We need more people.
06:39We need people to run these plants and to help the autoworkers and the Teamsters and
06:44the non-union people and everybody else.
06:46But we need people – and the farmers – and we're going to let people come in, but they
06:50want to come in.
06:51We want them to come in legally.
06:52They have to have the capability of loving our country, not people that hate our country.
06:56We don't want them in our country.
06:58And now we're going to pass the largest tax cuts in American history.
07:03And that's where we're relying on Mike and John Thune.
07:07And we will not cut Social Security, Medicare, or Medicaid benefits.
07:13And the Democrats will, because if they got in, the entire economy would collapse.
07:18This country was heading for a collapse under the people that you saw.
07:23They were horrible.
07:24And I think one of the reasons people like the job – I have my highest approval ratings
07:28because I think they're comparing me to the worst administration in the history of
07:33our country.
07:34So I appreciate that, at least.
07:37But Speaker of the House Mike Johnson and Senate Majority Leader – appreciate it,
07:41Mike.
07:42John Thune have been fantastic, by the way.
07:47But they've been working tirelessly on taking the next step to pass the plan for our One
07:52Big Beautiful Bill.
07:54I'd like to name it that, if you can.
07:56One Big – I made that statement about six months ago, and everybody calls it One Big
08:00Beautiful Bill.
08:02And it will be that.
08:03It'll have everything – the big tax cuts and every incentive there is.
08:07And it'll be fantastic.
08:09And by the way, for the cars, we're asking for an interest deduction on a loan.
08:14So if you build the car – only in America we do it, Brian.
08:17If the car's not built in America, you don't get the interest rate deduction.
08:21But if you build the car in America, if you buy a car, if it's built in America, then
08:27you get an interest rate deduction, tax deduction.
08:30And that's a big thing.
08:32That's going to be a big thing.
08:33I think that's going to pay for itself very quickly, that deduction.
08:36Never happened.
08:37We've never had anything like that before.
08:38Somebody said, where do you get the idea?
08:40Because it's so basic.
08:41You would think that would have happened a long time ago.
08:44It never did, and I'm very happy it didn't because now I can say that was my idea.
08:50But we're going to get us closer to the debt extension.
08:55We have to get the debt extension passed, and I know you're going to be able to do
08:58that, Mike.
08:59And it's very important that you do that.
09:01And all of the other things that the Senate budget plan gives us, along with working – because
09:06I know they're working together, John and Mike – and the two bills are going very
09:10well together.
09:11We need to get our shared priorities done, including certain permanent tax cuts.
09:15We want the tax cuts to be permanent.
09:18Spending cuts, energy, and historic investments in defense, border, and so much more.
09:23We're covering everything.
09:25These will be phenomenal.
09:26There'll be no bill like this that's going to straighten – one bill is going to straighten
09:30out our country for many, many years to come.
09:33And we said, let's just do it and let's get it done.
09:36And some guys will love it and some guys will like it a little bit less because they're
09:40not getting what they were exactly looking for, but they're getting a lot.
09:44They'll never – if we get this done, it'll be the most incredible bill ever passed in
09:49the history of our Congress and Senate and congressmen – the senators and the congressmen,
09:55many of whom are here today – will be very proud of themselves.
09:57I really believe that it's going to set us on a whole new, prosperous path.
10:02We're going to cut spending and right-size the budget back to where it should be.
10:07We're going to do that very strongly.
10:10Thank you, Rick.
10:12Thank you, John.
10:14Oh, look at all of our senators.
10:15Oh, boy.
10:16That's a nice group of people.
10:19But I won't like them so much if they don't get this bill done.
10:22That's a great group.
10:25And, Congressman, thank you very much.
10:26I appreciate it.
10:27Tremendous people.
10:29The Senate plan is my complete and total support, and the House plan, likewise, is very similar.
10:35We're moving along pretty much at the same clip, and as soon as you're ready, you'll
10:39show it to me, and I'm sure it'll have my support, Mike.
10:42Every Republican congressman and senator must unify.
10:46We have to unify.
10:47We can't be separated.
10:48We have to get it done.
10:50We have to get absolutely everything we can, and we have to take care of the American people.
10:54That's the only thing that matters.
10:55We have to take care of the American people first.
10:58We need to pass this bill immediately.
11:01Get it done, including debt extension.
11:04From this day on, we're not going to let anyone tell us that American workers and families
11:08cannot have the future that they deserve.
11:11We're going to produce the cars and ships, chips, airplanes, minerals, and medicines
11:16that we need right here in America.
11:19The pharmaceutical companies are going to become roaring back.
11:22They're coming roaring back.
11:24They're all coming back to our country, because if they don't, they've got a big tax to pay.
11:29And if they do, I'll be very happy, and you're going to be very happy, and you're going to
11:34be very safe.
11:35We're going to build our future with American hands, with American heart, American steel,
11:40and we're going to build it with American pride like we used to.
11:44We're approaching our 100th day as President, and have been given credit by a lot of people,
11:51actually, even some of the fake news.
11:53Can you believe it?
11:55Which in this case, hopefully, isn't fake, for having done more in that time than any
12:00other administration in the history of our country, in the first 100 days.
12:04I think we've had an amazing, in terms of what we've done, what we've gotten accomplished.
12:09I'd like to see if we can get that war ended, and another war from not starting in the Middle
12:16East.
12:17We have to get Russia.
12:18They're losing 2,000, on average, 2,500 people a day, young people, soldiers, Russian.
12:26Think of that, 2,500 through some days, but on average, probably over about a one-week
12:33period.
12:34It's 2,712, they say.
12:38They're losing those soldiers, they're dying, they're being decimated, and they're not from
12:43our country, but they're from other countries, but they're human beings.
12:48They're from Russia, they're from Ukraine in this period, most of them, and we're going
12:53to get it stopped.
12:54It's a senseless war that would have never happened if I was President, and it shouldn't
12:58be allowed to go on.
13:02And I think we've been given good cooperation by Russia and by Ukraine, but we have to get
13:07it stopped.
13:08It's humanity.
13:09It's humanity.
13:10It's a terrible thing.
13:12This will be a very big moment.
13:15I think you're going to remember today, it's going to be a free nation that we're dealing
13:19with.
13:20We're going to have a very free and beautiful nation.
13:22It's going to be Liberation Day in America, and it's going to be a day that hopefully
13:27you're going to look back in years to come and you're going to say, you know, he was
13:30right.
13:31This has turned out to be one of the most important days in the history of our country.
13:36God bless you and God bless America.
13:38Thank you, everybody.
13:39Thank you very much.
13:41Thank you very much.
13:53The US President Donald Trump, they're announcing those reciprocal tariffs and he's put out
13:58that chart explaining how as of now, these are discounted reciprocal tariffs.
14:05So take it country by country as he puts out that information.
14:10China that imposes 67% tariff on US goods export to China, US discounted reciprocal
14:18tariff as of now is at 34%.
14:21China's on top of that list, followed by European Union, 39% on American exports, 20%
14:26is what US will charge them.
14:29Then Vietnam, Taiwan, Japan on number six is India, which imposes about 52% tariff charge
14:37on US goods exports to India and 26% is the US discounted reciprocal tariffs on Indian
14:46goods.
14:47So that's a long list, China, European Union, Vietnam, Taiwan, Japan, India, South Korea,
14:53Thailand, Switzerland, Indonesia, Malaysia, Cambodia, United Kingdom, which remains at
14:5710 and 10, South Africa, Brazil, Bangladesh, Bangladesh that imposes 74% gets 37%, Singapore,
15:06Israel that imposes 33% gets 17% Israeli exports.
15:12And then President Donald Trump, as he signs that executive order, imposing those tariffs
15:17gives out details of how countries are, had been bleeding China, bleeding the United States
15:25of America.
15:26He says no longer 26% tariff on imports from India, 65% is what China was charging, 50
15:37to 513% South Korea was charging, 700% Japan was charging on US rice exports.
15:44He gave out some details, so Trump praised Prime Minister Narendra Modi, but did of course
15:50put some tariffs in place, 26% for now.
15:56He's given out details of how each country, each country, as he said, had ripped, ripped
16:04the United States for a period of 50 years.
16:07And he says reciprocal tariffs across the world, they do it, we do it, all as part of
16:14Donald Trump's efforts, as he says, to make America great again and even greater.
16:22So he says his aim is to ensure there's more production in the United States of America
16:26so that that golden age for the United States of America finally comes.
16:32He's accused several countries, and some countries in particular, of stealing American
16:37intellectual property, imposing unfair rules, value added tax.
16:42He says so far under, as he addresses Joe Biden as Sleepy Joe, there wasn't any ramification
16:53as American production suffered.
16:56He very specifically gave the example of shipbuilding, saying one shipbuilding facility
17:03in China produces more ships than all of United States of America put together.
17:09And he said America was a world leader in ship production at one point of time.
17:16So he gave an example, US imposes 2.4% tariff on motorcycles that come into the United States
17:23of America, but countries, and he gave India's example specifically.
17:29India imposes 75, 70% tariff on US motorcycle imports.
17:35Of course, that figure has since gone down.
17:37Vietnam, he said, 75% tariffs on American motorcycles.
17:43And he is particular about Harley Davidson motorcycles.
17:47That's one issue that he even raised during Trump presidency one.
17:51He spoke of automobiles, again, that's a core issue for America, 2.5% tariff on South
17:59Korean, or Japanese, or other foreign manufactured automobiles being exported to the United States
18:06of America.
18:07But he said, look at European Union, 10% tariff is what European Union has on cars.
18:12For example, GMC automobiles, or Ford automobiles, India imposes 70% tariffs.
18:20South Korea, 80%.
18:22Japan also has non-monetary trade barriers.
18:2790% of the automobiles manufactured in Japan, 80% of automobiles manufactured in South Korea,
18:35when they're exported, there are massive tariffs.
18:42But GMC and Ford almost export nothing to either Japan or South Korea.