Trump has unleashed a new wave of tariffs, hitting allies like India with a massive 26% tax while surprisingly sparing Russia and North Korea. The White House claims this move is to free America from foreign dependence, but critics are calling it a blatant geopolitical game. Is this a strategic masterstroke or an economic disaster?
#TrumpTariffs #TradeWar #BreakingNews #USPolitics #India #Russia #NorthKorea #GlobalEconomy #TariffShock #Geopolitics #AmericaFirst
Also Read
How Did Russia, Canada And North Korea Avoid Trump’s Reciprocal Tariffs? :: https://www.oneindia.com/international/how-did-russia-canada-and-north-korea-avoid-trump-s-reciprocal-tariffs-4112839.html?ref=DMDesc
Trump Announces 26% ‘Discounted Reciprocal Tariffs’ on Indian Goods :: https://www.oneindia.com/india/trump-announces-26-discounted-reciprocal-tariffs-on-indian-goods-4112835.html?ref=DMDesc
Trump Announces Reciprocal Tariffs: What It Means for Global Trade :: https://www.oneindia.com/international/trump-announces-reciprocal-tariffs-what-it-means-for-global-trade-4112827.html?ref=DMDesc
~HT.318~PR.274~ED.346~GR.122~
#TrumpTariffs #TradeWar #BreakingNews #USPolitics #India #Russia #NorthKorea #GlobalEconomy #TariffShock #Geopolitics #AmericaFirst
Also Read
How Did Russia, Canada And North Korea Avoid Trump’s Reciprocal Tariffs? :: https://www.oneindia.com/international/how-did-russia-canada-and-north-korea-avoid-trump-s-reciprocal-tariffs-4112839.html?ref=DMDesc
Trump Announces 26% ‘Discounted Reciprocal Tariffs’ on Indian Goods :: https://www.oneindia.com/india/trump-announces-26-discounted-reciprocal-tariffs-on-indian-goods-4112835.html?ref=DMDesc
Trump Announces Reciprocal Tariffs: What It Means for Global Trade :: https://www.oneindia.com/international/trump-announces-reciprocal-tariffs-what-it-means-for-global-trade-4112827.html?ref=DMDesc
~HT.318~PR.274~ED.346~GR.122~
Category
🗞
NewsTranscript
00:00["Pomp and Circumstance"]
00:30["Pomp and Circumstance"]
00:37["Pomp and Circumstance"]
00:42["Pomp and Circumstance"]
00:47["Pomp and Circumstance"]
00:51Thank you very much.
00:54Nice crowd.
00:55What a good-looking group of people.
00:57We have some very, very good news today,
01:00and a lot of good things are happening for our country.
01:03Please sit down.
01:05My fellow Americans, this is Liberation Day.
01:09I've been waiting for a long time.
01:11April 2nd, 2025, will forever be remembered
01:17as the day American industry was reborn,
01:21the day America's destiny was reclaimed,
01:24the day that we began to make America wealthy again.
01:29We're going to make it wealthy, good and wealthy.
01:32For decades, our country has been looted, pillaged,
01:35raped, and plundered by nations near and far,
01:38both friend and foe alike.
01:41American steelworkers, autoworkers,
01:43farmers, and skilled craftsmen,
01:45we have a lot of them here with us today,
01:48they really suffered gravely.
01:50They watched in anguish as foreign leaders
01:53have stolen our jobs,
01:55foreign cheaters have ransacked our factories,
01:58and foreign scavengers have torn apart
02:01our once beautiful American dream.
02:03We had an American dream that you don't hear so much about.
02:06You did four years ago, and you are now,
02:09but you don't too often, and for many years,
02:11and decades even, you didn't hear too much about.
02:14Our country and its taxpayers have been ripped off
02:17for more than 50 years,
02:19but it is not going to happen anymore.
02:22It's not going to happen.
02:28In a few moments, I will sign a historic executive order
02:32instituting reciprocal tariffs
02:35on countries throughout the world.
02:37Reciprocal, that means they do it to us,
02:40and we do it to them.
02:42Very simple, can't get any simpler than that.
02:48This is one of the most important days,
02:50in my opinion, in American history.
02:53It's our declaration of economic independence.
02:57For years, hardworking American citizens
03:00were forced to sit on the sidelines
03:02as other nations got rich and powerful,
03:05much of it at our expense.
03:07But now it's our turn to prosper,
03:10and in so doing, use trillions and trillions of dollars
03:14to reduce our taxes and pay down our national debt,
03:17and it'll all happen very quickly.
03:20With today's action, we are finally going to be able
03:23to make America great again,
03:25greater than ever before.
03:32Jobs and factories will come roaring back into our country,
03:36and you see it happening already.
03:38We will supercharge our domestic industrial base.
03:42We will pry open foreign markets
03:44and break down foreign trade barriers.
03:47And ultimately, more production at home
03:49will mean stronger competition
03:51and lower prices for consumers.
03:54This will be, indeed, the golden age of America.
03:57It's coming back, and we're going to come back very strongly.
04:04We're pleased to be joined on this momentous occasion
04:08by Vice President J.D. Vance.
04:10J.D., thank you.
04:14Thank you very much.
04:16Where are you, J.D.?
04:18No, that's...
04:20That wasn't too hard to find.
04:22I was looking.
04:23You know, he likes to take a low-key attitude,
04:25so usually we sit right in front.
04:27He's gaining a lot of confidence, Mike, isn't he?
04:30And nearly my entire Cabinet is here,
04:33as well as Speaker Mike Johnson,
04:35who's done an amazing job.
04:41And with the great success we had last night in Florida,
04:44we have a majority of seven,
04:47and seven's like a lot when we had it at one, right?
04:50You've done a fantastic job.
04:52And many of the members of the House and Senate are with us.
04:56Senators, congressmen, thank you all for being with us.
04:58We appreciate it.
05:00For decades, the United States slashed our trade barriers
05:03on other countries,
05:04while those nations placed massive tariffs on our products
05:08and created outrageous non-monetary barriers
05:11to decimate our industries.
05:14And in many cases, the non-monetary barriers
05:16were worse than the monetary ones.
05:19They manipulated their currencies,
05:21subsidized their exports,
05:23stole our intellectual property,
05:25imposed exorbitant VAT taxes to disadvantage our products,
05:30adopted unfair rules and technical standards,
05:33and created filthy pollution havens.
05:36They were absolutely filthy, but they always came to us
05:40and they said, we're violating, we should pay for it.
05:43It's all detailed in a very big report
05:45by the U.S. Trade Representative on Foreign Trade Barriers.
05:50And I'll just hold it up for you.
05:52It's available, and you don't have to pay too much.
05:55As I understand it, you'll pay nothing.
05:57It's a lot of work.
05:59A lot of work for something, actually,
06:01because it's a special book.
06:03It's very, frankly, it's very upsetting when you read it,
06:07when you see what people have been doing to us for 30 years.
06:11This all happened with no response
06:13from the United States of America, none whatsoever.
06:16But those days are over.
06:18Let me offer just a few examples
06:20of the vicious attacks our workers have faced
06:23for so many years.
06:25The United States charges other countries
06:28only a 2.4 tariff on motorcycles.
06:33Meanwhile, Thailand and others are charging much higher prices,
06:38like 60 percent.
06:40India charges 70 percent.
06:42Vietnam charges 75 percent,
06:44and others are even higher than that.
06:46Likewise, until today, the United States
06:49has, for decades, charged a 2.5 tariff.
06:53Think of that, 2.5 percent on foreign-made automobiles.
06:58The European Union charges us more than 10 percent tariffs,
07:03and they have 20 percent VATs.
07:05Much, much higher.
07:07India charges 70 percent.
07:09And perhaps worst of all are the non-monetary restrictions
07:12imposed by South Korea, Japan,
07:14and very many other nations
07:16as a result of these colossal trade barriers.
07:2081 percent of the cars in South Korea
07:23are made in South Korea.
07:2584 percent of the cars in Japan are made in Japan.
07:29Toyota sells 1 million foreign-made automobiles
07:33into the United States,
07:34and General Motors sells almost none.
07:37Ford sells very little.
07:39None of our companies are allowed to go into other countries.
07:43And I say that, friend and foe.
07:45And in many cases, the friend is worse than the foe
07:48in terms of trade.
07:50But such horrendous imbalances
07:52have devastated our industrial base
07:54and put our national security at risk.
07:57I don't blame these other countries at all for this calamity.
08:00I blame former presidents and past leaders
08:03who weren't doing their job.
08:04They let it happen, and they let it happen
08:07to an extent that nobody can even believe.
08:09That's why, effective at midnight,
08:11we will impose a 25 percent tariff
08:13on all foreign-made automobiles.
08:23Brian, I'd like to have you come up here for a second, okay?
08:27I just see him sitting.
08:28He's been a fan of ours,
08:31and he understands this business
08:33a lot better than the economists,
08:35a lot better than anybody.
08:36Brian, say a few words, please, would you?
08:38Thank you, Mr. President.
08:39It's a great honor to have you.
08:40Thanks.
08:41Thank you, Mr. President.
08:42I grew up just north of Detroit, Michigan, in Macomb County,
08:46known as the home of the Reagan Democrats.
08:49My first vote for president was for Ronald Reagan.
08:52I thought that was going to be the best president
08:53I ever saw in my lifetime
08:55until Donald J. Trump came along.
09:00I have watched my entire life,
09:02I have watched plant after plant after plant
09:05in Detroit and in the metro Detroit area close.
09:09There are now plants sitting idle.
09:11There are now plants that are underutilized,
09:14and Donald Trump's policies
09:16are going to bring product back
09:18into those underutilized plants.
09:20There's going to be new investment.
09:21There's going to be new plants built.
09:23And the UAW members, and I brought 20 of them with me,
09:27they're sitting right over here,
09:29we support Donald Trump's policies on tariffs 100%.
09:35So, Mr. President, we can't thank you enough.
09:37And in six months or a year,
09:39we're going to begin to see the benefits.
09:41I can't wait to see what's happening
09:42three or four years down the road.
09:44Thank you, Mr. President.
09:47Thank you so much.
09:49What a great guy.
09:50He got it right from the beginning.
09:52He got it before almost anybody else.
09:54This group over there, they got it, too.
09:56And, you know, we won the state of Michigan.
09:59We won almost all of them.
10:01But we won Michigan by a lot.
10:03And I want to just thank you all.
10:05The autoworkers were fantastic.
10:06The Teamsters were fantastic.
10:08Everyone was pretty good, I will tell you.
10:12Thank you very much.
10:13I appreciate it.
10:14You're going to be very happy very soon.
10:16And you probably see what's happening
10:18with all of the not only car companies,
10:20but car companies in particular.
10:22You see it with all of the ones.
10:25They're moving.
10:26They're announcing day in, day out.
10:28You're seeing it.
10:29Nobody has ever seen anything like that.
10:31With today's actions, we're also standing up
10:33for our great farmers and ranchers
10:35who are brutalized by nations all over the world.
10:39Brutalized.
10:40Canada, by the way,
10:44imposes a 250 to 300 percent tariff
10:47on many of our dairy products.
10:49They do the first can of milk.
10:53They do the first little carton of milk
10:55at a very low price.
10:56But after that, it gets bad,
10:57and then it gets up to 275, 300 percent.
11:01So when they're figuring what's Canada charging,
11:03they say, oh, about 2 percent, 3 percent.
11:06But take a look at what happens down the road.
11:08When you look a little bit, it's not a pretty picture.
11:11And we don't like it, and it's not fair.
11:13It's not fair to our farmers.
11:14It's not fair to our country.
11:16And with countries like Canada, you know,
11:19we subsidize a lot of countries and keep them going
11:23and keep them in business.
11:24In the case of Mexico, it's $300 billion a year.
11:28In the case of Canada,
11:29it's close to $200 billion a year.
11:32And I say, why are we doing this?
11:34Why are we doing this?
11:35I mean, at what point do we say
11:37you got to work for yourselves
11:39and you got to — this is why we have the big deficits.
11:42This is why we have that amount of debt
11:45that's been placed on our heads
11:47over the last number of years.
11:49And we're really not taking it anymore.
11:51Through non-tariff barriers,
11:53the European Union bans imports of most American poultry.
11:57You understand?
11:58They say, we want to send you our cars,
12:00we want to send you everything,
12:01but we're not going to take anything that you have.
12:04Australia bans, and they're wonderful people
12:07and wonderful everything,
12:09but they ban American beef,
12:11yet we imported $3 billion of Australian beef
12:14from them just last year alone.
12:17They won't take any of our beef.
12:18They don't want it
12:19because they don't want it to affect their farmers.
12:21And you know what?
12:22I don't blame them,
12:23but we're doing the same thing right now,
12:25starting about midnight tonight, I would say.
12:28And China charges American rice farmers
12:34an over-quota, it's called,
12:36a tariff rate of 65 percent.
12:38South Korea charges 50.
12:41Actually, they charge different,
12:43from 50 percent to 513 percent.
12:46And Japan, our friend, charges a 700 percent.
12:50But that's because they don't want us selling rice,
12:52another thing.
12:53Who can blame them, Madam Secretary?
12:56Agriculture, great job you did on eggs, by the way.
12:59The egg prices came down 50 percent.
13:01You got them down 50 percent
13:03once we got involved.
13:04They were going through the sky, the egg prices.
13:07They were going through the sky,
13:09and you did a fantastic job.
13:11Now we have lots of eggs,
13:12and they're much cheaper down, about 59 percent now.
13:15And they're going down further.
13:17We charge 2.8 percent for so many things
13:22that other countries are charging 200 percent,
13:25300 percent, then 400 percent for.
13:28If imposing tariffs and protective barriers
13:31made nations poor,
13:33then every country on Earth would be racing
13:35to eliminate these policies,
13:37and China would be the first in line.
13:39They run a very strong country,
13:42but they're not first in line,
13:45and the American people are paying a very big price.
13:48From 1789 to 1913,
13:53we were a tariff-backed nation,
13:55and the United States was proportionately
13:57the wealthiest it has ever been.
13:59So wealthy, in fact, that in the 1880s,
14:02they established a commission to decide
14:04what they were going to do
14:06with the vast sums of money they were collecting.
14:08We were collecting so much money so fast,
14:10we didn't know what to do with it.
14:12Isn't that a nice problem to have?
14:14What do you think, Marco?
14:15Good problem?
14:16Marco would love that problem.
14:18But we don't have that problem anymore,
14:21but we're not going to have it very much longer,
14:23I will tell you.
14:24But they collected so much money,
14:26they actually formed a commission
14:28to determine what they were going to do with the money,
14:30who they were going to give it to, and how much.
14:32Then in 1913, for reasons unknown to mankind,
14:36they established the income tax
14:38so that citizens, rather than foreign countries,
14:41would start paying the money necessary
14:43to run our government.
14:45Then in 1929, it all came to a very abrupt end
14:48with the Great Depression,
14:50and it would have never happened
14:52if they had stayed with the tariff policy.
14:54It would have been a much different story.
14:56They tried to bring back tariffs to save our country,
15:00but it was gone.
15:01It was gone.
15:02It was too late.
15:03Nothing could have been done.
15:05It took years and years to get out of that depression,
15:07far longer than even FDR had that office
15:11right over there for a long period of time.
15:14The ramp system, it's rather intricate,
15:16was built because of him.
15:18And every time you walk up, you think of him.
15:20And he did a great job in many ways,
15:22but it lasted long beyond his terms, as you know.
15:26But it's not too late any longer,
15:29and we're going to start being smart,
15:32and we're going to start being very wealthy again.
15:34We're going to be wealthy as a country
15:36because they've taken so much of our wealth away from us.
15:39We're not going to let that happen.
15:41We truly can be very wealthy.
15:43We can be so much wealthier than any country.
15:45It's not even believable, but we're getting smart.
15:47Nearly a century later,
15:49in the face of unrelenting economic warfare,
15:52the United States can no longer continue
15:54with a policy of unilateral economic surrender.
15:58We cannot pay the deficits of Canada, Mexico,
16:01and so many other countries.
16:02We used to do it. We can't do it anymore.
16:04We take care of countries all over the world.
16:06We pay for their military.
16:08We pay for everything they have to pay.
16:10And then, when you want to cut back a little bit,
16:13they get upset that you're not taking care of them any longer.
16:15But we have to take care of our people,
16:17and we're going to take care of our people first.
16:19And I'm sorry to say that.
16:21And today, we're standing up for the American worker,
16:28and we are finally putting America first.
16:38In sleepy Joe Biden's last year in office,
16:40the United States hemorrhaged 100,000 manufacturing jobs,
16:45and the number was going through the roof
16:47at levels never seen before.
16:50And our trade deficit reached a record $1.2 trillion,
16:55which is unheard of.
16:57Since the beginning of NAFTA, the worst trade deal ever made.
17:01It was a horror show.
17:02I was able to terminate it.
17:03They all said, you'd never be able to get it out.
17:05We had to get approval from Congress to get it terminated.
17:09We had to live with that deal.
17:11It was the worst deal, worst trade deal ever made by far.
17:14But since the very beginning of NAFTA,
17:16our country lost 90,000 factories.
17:20Think of what that is, 90,000.
17:22Think about putting a map up and putting tax on it.
17:25You wouldn't have enough room.
17:2790,000.
17:28I said, is that possible?
17:29We had it checked four different times,
17:31and it was actually somewhat higher than that.
17:33And 5 million manufacturing jobs were lost
17:36while racking up trade deficits of $19 trillion.
17:42That was the worst trade deal ever made.
17:45As a result of these gigantic losses,
17:47foreign nations now own $26 trillion
17:50more of American assets than American.
17:53Think of this, than the Americans own
17:55of their own foreign assets or other foreign assets.
17:59The United States can no longer produce
18:01enough antibiotics to treat our sick.
18:05We have a tremendous problem.
18:06We have to go to foreign countries to treat our sick.
18:09If anything ever happened from a war standpoint,
18:11we wouldn't be able to do it.
18:13We import virtually all of our computers,
18:16phones, televisions, and electronics.
18:18We used to dominate the field,
18:20and now we import it all from different countries.
18:23A single shipyard in China now produces more ships
18:26every year than all of the American shipyards combined.
18:30Think of that.
18:31And it was a business that we used to dominate.
18:34We used to dominate it totally.
18:36In short, chronic trade deficits are no longer
18:38merely an economic problem.
18:40They're a national emergency that threatens
18:43our security and our very way of life.
18:45It's a very great threat to our country.
18:48And for these reasons, starting tomorrow,
18:50the United States will implement reciprocal tariffs
18:53on other nations.
18:55It's been a long time since we even thought of that.
18:59We used to think about it a lot.
19:01We didn't think about it for many decades,
19:03and you see what's happened.
19:05For nations that treat us badly,
19:07we will calculate the combined rate of all their tariffs,
19:10non-monetary barriers, and other forms of cheating.
19:14And because we are being very kind,
19:17we're kind people.
19:18Very kind.
19:20You're not so kind when you get ripped off
19:22with your salaries.
19:23My autoworker friends and my Teamster friends
19:26and all of the unions that typically voted Democrat,
19:30they're not voting Democrat anymore
19:32because worker, whether union or non-worker,
19:34they're for the Republicans now.
19:36That's what happened.
19:38But we will charge them approximately half
19:41of what they are and have been charging us.
19:43So the tariffs will be not a full reciprocal.
19:49I could have done that, yes,
19:51but it would have been tough for a lot of countries
19:53who didn't want to do that.
19:54I'd like to see the chart, if you have it.
19:56Could you bring it up, Howard?
19:58This is our great Secretary of Commerce,
20:02Howard Lutnick.
20:04Thanks, Howard.
20:06So, if you look at that, China, first row.
20:11China, 67 percent.
20:13That's tariffs charged to the USA,
20:17including currency manipulation and trade barriers.
20:20So, 67 percent.
20:22I think you can, for the most part, see it.
20:24Those with good eyes, with bad eyes.
20:26We didn't want to bring – it's very windy out here.
20:28We didn't want to bring out the big charts
20:30because it had no chance of standing.
20:33Fortunately, we came armed with a little smaller chart.
20:37So, 67 percent.
20:39So, we're going to be charging a discounted
20:41reciprocal tariff of 34 percent.
20:43I think, in other words, they charge us,
20:45we charge them, we charge them less.
20:47So, how can anybody be upset?
20:49They will be because we never charge anybody anything.
20:52But now we're going to charge.
20:54European Union, they're very tough.
20:56Very, very tough traders.
20:59You know, you think of European Union, very friendly.
21:02They rip us off.
21:03It's so sad to see.
21:05It's so pathetic.
21:0739 percent.
21:08We're going to charge them 20 percent.
21:10So, we're charging them essentially half.
21:12Vietnam, great negotiators, great people.
21:16They like me, I like them.
21:17The problem is they charge us 90 percent.
21:20We're going to charge them 46 percent tariff.
21:23Taiwan, where they make –
21:25they took all of our computer chips and semiconductors.
21:28We used to be the king, right?
21:30We were everything.
21:31We had all of it.
21:33Now we have almost none of it, except the biggest
21:35company is coming in.
21:36They're going to have – we're going to end up
21:38with almost 40 percent.
21:39Lee Zeldin is working to get their approvals.
21:41And it's an amazing company.
21:43Mr. Wei of one of the great companies of the
21:46world, actually.
21:47They're coming in from Taiwan, and they're going
21:49to build one of the biggest plants in the world.
21:51Maybe the biggest for that.
21:53But 64 percent, we're going to charge them 32 percent.
21:56Japan, very, very tough.
21:59Great people.
22:00And again, I don't blame the people for doing it.
22:03It's – I think they're very smart in doing it.
22:05I blame the people that sat right in that Oval Office,
22:07right over there, right behind the Resolute Desk,
22:10or whichever desk they chose.
22:12Japan, 46 percent.
22:14They would charge us 46 percent.
22:16And much higher for certain items, like cars.
22:19You know, little items like cars.
22:21Forty-six percent, we're charging them 24 percent.
22:25India, very, very tough.
22:26Very, very tough.
22:28The Prime Minister just left, and he's a great
22:31friend of mine.
22:32But I said, you're a friend of mine, but you're not
22:35treating us right.
22:36They charged us 52 percent.
22:37You have to understand, we charge them almost
22:39nothing, for years and years and decades.
22:41And it was only seven years ago, when I came in, we
22:44started with China and charged them – we took in
22:47hundreds of billions of dollars from China in
22:50tariffs.
22:52And they understood, honestly.
22:55President Xi understood.
22:56He said, look, I understand.
22:58And the other countries – and they all understand.
23:00We're going to have to go through a little tough
23:02love, maybe.
23:03But they all understand.
23:04They're ripping us off, and they understood it.
23:07Prime Minister of Japan, Shinzo, was Shinzo Abe.
23:13He was a fantastic man.
23:15He was, unfortunately, taken from us.
23:18Assassination.
23:20But I went to him and I said, Shinzo, we have to
23:23do something.
23:24A trade is not fair.
23:25And he said, I know that.
23:27I know that.
23:28And he was a great gentleman.
23:30He was a fantastic man.
23:33But he understood immediately what I was
23:35talking about.
23:36I said, Shinzo, we have to do something.
23:38He said, I know that.
23:39And we worked out a deal.
23:41And it would have been a much better deal, but
23:43frankly, there were many years left on the deal
23:45that was made previous to my getting there.
23:47But it was something.
23:49If you look at Switzerland, 61 percent to 31 percent.
23:53Indonesia, Malaysia, Cambodia.
23:56Oh, look at Cambodia, 97 percent.
23:59We're going to bring it down to 49.
24:01They made a fortune with the United States of
24:03America.
24:04United Kingdom, 10 percent.
24:06And we'll go 10 percent.
24:07So we'll do the same thing.
24:10South Africa, oh, 60 percent, 30 percent.
24:14And they've got some bad things going on in South
24:17Africa.
24:18You know, we're paying them billions of dollars.
24:20And we cut the funding because a lot of bad
24:22things are happening in South Africa.
24:24The fake news ought to be looking at it.
24:26They don't want to report it.
24:27Brazil, 10 percent, 10 percent.
24:30Bangladesh is 74 percent.
24:33So you see what's going on.
24:35Pakistan, 58 percent.
24:38Sri Lanka, 88 percent.
24:41So what we're doing is we're taking not the full
24:44— we could take the full 88 percent.
24:46Thanks a lot.
24:47He's doing a very good job.
24:48How is he doing?
24:49Huh?
24:50I think you better take it with you.
24:52It's not going to last very long.
24:54He's going to put it — it's going to follow you
24:56down with the wind.
24:57I brought a hat just in case it got too windy.
25:00But here — would anybody like a hat?
25:03I'm giving — I'm not giving it to a cabinet.
25:05I'm giving it to the autoworkers.
25:06Come here.
25:08Thank you, fellas.
25:13Get it.
25:14That's it.
25:15That's it.
25:16They deserve it more than our Cabinet.
25:22Our Cabinet has plenty of hats.
25:24But you see the — you see the numbers.
25:26The numbers are so disproportionate.
25:28They're so unfair.
25:29At the same time, we will establish a minimum
25:32baseline tariff of 10 percent.
25:34You notice that on the chart.
25:36And that will be on other countries to help rebuild
25:39our economy and to prevent cheating.
25:41So we're going to have a minimum of cheating, and
25:43we're going to be very severe on the people that
25:46— at the gate that watch the tariffs and watch the
25:48product coming in because there's been a lot of — a
25:51lot of bad things happening at the gate because the
25:54money is so enormous that you're talking about.
25:56There's never been probably anything like it in
25:59terms of the enormity.
26:01And there are a lot of bad things happening at the
26:03people that do the check-in.
26:05They're looking at 10-year jail sentences if they do
26:07play.
26:08We're going to treat them so good.
26:10But if they cheat, the repercussions are going to
26:12be extremely strong.
26:13Foreign nations will finally be asked to pay for
26:16the privilege of access to our market — the biggest
26:20market in the world.
26:21We're, right now, the biggest market in the world.
26:23We had a great country four years ago in terms of the
26:27economics.
26:28We were doubling up on China.
26:29We were doing so well.
26:30Nobody was going to catch us, but so much of it
26:33slipped away over the last four years under Biden.
26:36I campaigned on this policy throughout last year
26:39and today.
26:40That promise was made, and it was also a promise, as
26:43you know, that was kept.
26:45Promises made, promises kept.
26:47To any company that objects to our common-sense
26:53reciprocal tariffs — again, reciprocal, back and
26:57forth, back and forth.
26:59And we were — I call this kind reciprocal.
27:02This is not full reciprocal.
27:04This is kind reciprocal.
27:06But what we do is we cut it in half, we charge them.
27:10My answer is very simple if they complain.
27:12If you want your tariff rate to be zero, then you
27:15build your product right here in America, because
27:18there is no tariff if you build your plant, your
27:20product in America.
27:21And we've seen companies coming in like we've never
27:26seen before.
27:27Likewise, to all of the foreign presidents, prime
27:31ministers, kings, queens, ambassadors, and everyone
27:34else who will soon be calling to ask for
27:36exemptions from these tariffs, I say, terminate
27:40your own tariffs, drop your barriers, don't
27:43manipulate your currencies.
27:45They manipulate their currencies like nobody can
27:48even believe, which is a bad, bad thing and very
27:51devastating to us.
27:52And start buying tens of billions of dollars of
27:55American goods.
27:56Tariffs give our country protection against those
28:00that would do us economic harm.
28:02And many people were looking to do us economic
28:05harm.
28:06Maybe not so obviously, but they were doing
28:10tremendous economic harm.
28:12But even more importantly, they will give us growth.
28:15These tariffs are going to give us growth like you
28:17haven't seen before.
28:18And it will be something very special to watch.
28:21I am so looking forward.
28:23And, Brian, it's going to happen even faster than
28:25you said.
28:26You might say, but it's already started.
28:29It's already started.
28:31Work has already begun on plants all around the
28:34country.
28:35And you see that as before.
28:36These are big, rich companies.
28:38We have $61 billion started on a big plant
28:42going up.
28:43It's going to be announced over the next two days.
28:45And they already started work.
28:47Many of these biggest, the biggest companies in the
28:49world, they've committed to build, build, build.
28:52We're going to build, build, build, sir.
28:55And they came here to see me and they came, wanted
28:57to know if they could have a press conference.
28:59I do as many as I can.
29:00I'm pretty busy trying to stop Russia and Ukraine
29:03and the Middle East.
29:04We got to stop that.
29:05We're going to stop the Houthis, which were
29:08making tremendous.
29:09They like shooting ships down and out of the water
29:12seeking ships.
29:13They get a kick out of it, but they're not getting
29:15such a kick out of it now, are they, Mr. Secretary?
29:18They're not getting such a kick out of that now.
29:21But here are just a short list of some of the
29:24companies that have already announced and committed
29:27to investment.
29:28And this is a company that built its factories and
29:32its plants in China.
29:34Apple is going to spend $500 billion.
29:39They never spent money like that here.
29:41They're going to build their plants here.
29:43SoftBank, OpenAI, and Oracle, great, great
29:48companies, are investing $500 billion almost
29:53immediately.
29:54NVIDIA, a hot company, is investing hundreds of
29:57billions of dollars.
29:58They just announced.
29:59TSMC, the biggest, most important company in the
30:03world of chips from Taiwan, with no investment from
30:07us, is investing $200 billion.
30:09And they said the reason was, number one, the
30:12election of November 5th, and number two, the
30:14tariffs.
30:15They don't want to pay the tariffs.
30:17The reason they're not paying it is to build
30:19their plant here.
30:20So we're going to go from almost no percentage.
30:22We used to have 100 percent of the chip
30:24market.
30:25Now it's all in Taiwan.
30:26Almost all of it is in Taiwan.
30:27A couple of other countries, but mostly in
30:29Taiwan.
30:30And think of it, we had 100 percent.
30:32We lost it because of people in that office
30:35that didn't do their job.
30:36They allowed it to be stolen from us.
30:39Johnson & Johnson, great company, $55 billion.
30:42Eli Lilly, $27 billion.
30:45MEDA is investing $500 billion.
30:49Wow.
30:50DMACC is investing $20 billion.
30:54CMA, CGM, $20 billion.
30:57And then you have Merck and Clarius, Stellantis,
31:01General Motors, GE Aerospace, Honda, Nissan.
31:05Hyundai are all putting in billions and billions of
31:08dollars, and they're committed 100 percent.
31:10So.
31:11And we have never had — we've never had — and
31:14this is after two and a half months.
31:16This is not — this is after just a short — this
31:19all took place as soon as we came out with what
31:22everybody wanted to do.
31:23You know, I watched a gentleman today on
31:26television.
31:27He used to work with Lee Iacocca, a very
31:29respected automobile person.
31:30And he said, you know — because they're asking
31:33people, and they try and get as many negative
31:35people as they can, but they can't find them too
31:37much.
31:38It's pretty hard to find in terms of what we're
31:40doing, especially when they see all this
31:42investment.
31:43And what do you think of what Trump is doing from
31:45the automobile standpoint?
31:46He said, I can't believe it.
31:49Somebody is finally — he's an older guy, real
31:52pro, really top guy.
31:54With Lee Iacocca, he said, I never thought I'd see
31:57the day when this would happen.
31:59Where somebody had the courage to go and do what
32:01has to be done.
32:02This is transforming our nation.
32:04Our entire nation is going to be transformed, not
32:07only with the cars, but on every single other item
32:11that's built.
32:12And we're going to become an industrial powerhouse.
32:14And he said that so beautifully today.
32:16In fact, I'm going to find out — I'm going to get a
32:19tape.
32:20And, Bruce, I'm going to get that tape, and I'm
32:22going to send it to you out in Long Island, and
32:24you're going to play it for the people and all your
32:26union workers and your non-union workers out
32:28there.
32:29You got a pretty even split.
32:30But we have — so far, it looks like we're going to
32:35have about $6 trillion of investments.
32:37And you wouldn't do that in years in this country
32:42over the last number of years.
32:44Six trillion dollars.
32:45And that's going to be much higher by the end of
32:47the year.
32:48And think of what $6 trillion is.
32:50You wouldn't have even a small percentage of that
32:54under this other system.
32:55We're going to be an entirely different country,
32:57and it's going to be fantastic for the workers.
32:59It's going to be fantastic for everyone.
33:01There will never have been a transformation of a
33:04country like the transformation that's
33:06already happening in the United States of America.
33:09It's an incredible thing to watch, and it's
33:11incredible to meet with the top people — people that
33:14you read about.
33:15Very wealthy people or people that are great
33:18managers and executives and presidents of big
33:21public companies.
33:22And to watch the enthusiasm they have now
33:24that they didn't have.
33:25They gave up on our country.
33:26They went to foreign countries and they built.
33:29Companies are pouring into our country at levels
33:32never seen before, with jobs and money to follow.
33:35And it's really beautiful.
33:37In the coming days, there will be complaints from
33:39the globalists and the outsourcers and special
33:42interests and the fake news.
33:44Always — the fake news will always complain.
33:46But never forget, every prediction our opponents
33:50made about trade for the last 30 years has been
33:53proven totally wrong.
33:54They were wrong about NAFTA.
33:56They were wrong about China.
33:58They were wrong about the Trans-Pacific Partnership,
34:01which would have been a disaster if I didn't
34:03terminate it.
34:04If I didn't turn that — terminate that, United
34:08Auto Workers, you would have had no jobs in this
34:11country.
34:12You would have had no jobs.
34:14It was all going to other countries.
34:17In my first term, they said tariffs would crash the
34:21economy.
34:22Instead, we built the greatest economy in the
34:24history of the world.
34:25And again, I have great respect for President Xi
34:27of China.
34:28Great respect for China.
34:29But they were taking tremendous advantage of
34:33us.
34:34And I commend them for that.
34:35I say, hey, if you can get away with it, that's
34:38okay.
34:39But, you know, they understand exactly what's
34:42happening.
34:43And they probably — most of them are saying it's
34:45about time they did something.
34:46But — and they're going to fight, and they're
34:48going to fight fair.
34:49Everyone is going to fight.
34:50You know, it's like — I say to the leaders, look,
34:53you got to take care of your country, but we have
34:55to start taking care of our country now.
34:57We can't do what we've been doing for the last 50
34:59years.
35:00In 2020 of my election, the stock market went up,
35:03in my first term, 88 percent, with NASDAQ going
35:07up 155 percent — more than any President has
35:11ever had in any term in office, by far.
35:15And I think we're going to blow that away.
35:19And maybe the numbers won't show, but I think
35:22they're going to show much better than even those
35:24numbers.
35:25But what you're going to see is you're going to
35:27see activity that — empty, dead sites,
35:29factories that are falling down.
35:31Those factories will be knocked down, and they're
35:33going to have brand-new factories built in their
35:35place.
35:36They're not only talking about renovating, they're
35:38talking about brand-new — the best anywhere in the
35:40world, the biggest anywhere in the world.
35:42I have a friend who builds car plants, and I said,
35:44I want to see the biggest and the best.
35:46He said, Well, we have to go to Mexico.
35:48I said, No, I want to see it in the United States.
35:50He said, We're not building them in there.
35:52This is a year and a half ago.
35:54During the campaign, he said, We're not building
35:56it.
35:57You'd have to go to Mexico.
35:58So I was starting to decide to run, and I went to
36:00number one in the polls — very rapidly, I want to
36:02say.
36:03I want to say.
36:04Like, let's say, in the first — in the first
36:06hour.
36:07And then, shortly thereafter, it looked like I
36:09was going to win, and the fake news was saying, Oh,
36:11no, don't do this.
36:12What they don't know is if I didn't win, they would
36:14have really been in trouble because nobody wants to
36:16read them anyway.
36:17But I tell you what, when I — when it looked like I
36:19was going to win, I announced that I was going
36:21to be doing exactly what we're talking about today.
36:23Great consistency, actually, because I've
36:25been talking about it for 40 years.
36:27But — because I saw what was happening.
36:29Forty years ago, if you look at my old speeches
36:31when I was young, very handsome — my old
36:33speeches, and the people would say — I'd be on a
36:35television show, I'd be talking about how we were
36:37being ripped off by these countries.
36:39I mean, nothing changes very much.
36:41The only thing that changed were the countries.
36:43But nothing really changed.
36:44And I'm going to tell you what, I'm going to tell
36:46you what, I'm going to tell you what, I'm going to
36:48tell you what, I'm going to tell you what, I'm going
36:50to tell you what, I'm going to tell you what, I'm
36:53going to tell you what, I'm going to tell you what.
36:55Nothing really changes.
36:56But it — you know, it's why it's such an honor
36:58— it's such an honor to be finally able to do this.
37:00If you look at China, I took in hundreds of
37:02billions of dollars in my term — hundreds
37:05of billions.
37:06They never paid 10 cents to any other President and
37:10yet they paid hundreds of billions — so much so
37:13that Biden couldn't do anything.
37:15They wanted to try and terminate it because he
37:18had a very special relationship with China.
37:20You know what their relationship was?
37:22He had a special relationship.
37:25But the numbers were so big.
37:27The numbers were so big that they couldn't do it.
37:31So they did ease it up.
37:33They did things that they shouldn't have done.
37:35They made it a lot more comfortable for them, but
37:38they couldn't do it because the numbers were
37:40hundreds of billions of dollars.
37:42And I did that.
37:43And we were on our way to doing something, like,
37:46incredible.
37:48And then we had a very bad election happen, a very
37:50bad election.
37:51A lot of bad things happened.
37:52So when I said, we got to do it again, I said, we
37:55have to make it too big to rig.
37:56And we made it too big to rig, and we won in
37:58records.
37:59And it was a monumental win.
38:01And it was such an honor to see so many of you, like
38:05Brian and your friends, here with us to celebrate
38:09and to, more importantly, celebrate what we're
38:11doing.
38:12Because that wouldn't be a full celebration if we
38:14didn't do this, because this will be an entirely
38:16different country in a short period of time.
38:19It'll be something the whole world will be
38:21talking about it.
38:22The critics made the very tired predictions earlier
38:26this year, but in February, core inflation
38:28dropped to the lowest rate in four years.
38:31And the price of eggs, as you know, just in a couple
38:34of — in a month and a half, we were there for
38:36four weeks.
38:39And the first week, I got blamed for eggs.
38:42I said, I just got here.
38:44They said, eggs have gone up at, like, 250 percent
38:47and you can't get eggs.
38:49And they were going crazy.
38:51And I said, I just got here.
38:54And then we — we got to work on eggs, and we got to
38:58work on everything.
38:59And our great Secretary of Agriculture, you did a
39:02fantastic job.
39:03Brooke Rollins, you did a fantastic job.
39:05And, as I said before, the price of eggs dropped now
39:0959 percent, and they're going down more.
39:12And the availability is fantastic.
39:14They were saying that, for Easter, please don't use
39:17eggs.
39:17Could you use plastic eggs?
39:18I said, we don't want to do that.
39:20We want to — and you really came through.
39:22It's an amazing job.
39:23Thank you very much, Brooke.
39:24You did great.
39:25But, likewise, an old-fashioned term that we
39:27use — groceries.
39:27I used it on the campaign.
39:30It's such an old-fashioned term, but a
39:31beautiful term.
39:32Groceries.
39:32It sort of says a bag with different things in it.
39:35Groceries went through the roof.
39:38And I campaigned on that.
39:39I talked about the word groceries for a lot.
39:42And energy costs now are down.
39:44Groceries are down.
39:45Gasoline is way under $3, and people are beginning
39:49to be able to buy things and live again.
39:51We brought prices way down.
39:53We created 10,000 already in a few weeks — new
39:56manufacturing jobs.
39:58And it was — that took place in one month.
40:01Numbers that they haven't seen in a long time.
40:03We had virtually no inflation under my term.
40:06We had virtually no inflation for four years.
40:09But after transitioning over to Sleepy Joe, it
40:13went from almost nonexistent to the highest
40:15in the history of our country.
40:17They had the highest inflation in the history
40:19of our country, brought up by energy and bad
40:22spending and bad policy.
40:24And a lot of bad things happened.
40:26How about allowing millions and millions and
40:29millions of people to pour into our country with
40:31open borders, where the — it's so sad to see, even
40:36now.
40:37And I see our great Secretary of — you have
40:39done — stand up, please, Christy.
40:42Stand up.
40:42Christy Noem and Tom Holman.
40:50These people are doing a great job, but — gotten
40:53them out in records.
40:54And we have problems with judges that don't want
40:56them to go out.
40:57They want Trinidad and Joaquin, and they want
41:00MS-13 — the most vicious gangs ever.
41:03Nobody has ever seen anything like it.
41:04Absolute killer gangs.
41:06They kill people.
41:07They don't even think about it.
41:08And we put them out, and we have judges now —
41:10radical-left judges that want to — they don't want
41:13them to go out.
41:13They want them to even be brought back.
41:15Let's bring them back.
41:16You've done a fantastic job.
41:18And please thank everybody.
41:19Homeland Security.
41:20Thank everybody.
41:21Appreciate it.
41:22And we now have a border that's the best border
41:28that we've ever had.
41:30Even better than it was my first term.
41:32My first term, we did good.
41:34But this one, we really specialized it.
41:35We've done really well.
41:37And we had records then.
41:39We had the — we're the best, safest border.
41:41Four years ago, we had the best border there ever was.
41:44And now we have — you've actually matched it and
41:47done even better.
41:48And we're going to get it down the right way.
41:50And we want people, by the way, to come into our
41:52country, but we want them to come in through a
41:55legal process.
41:56We want them to come in legally.
41:57We need more people.
41:59We need people to run these plants and to help
42:01the autoworkers and the Teamsters and the
42:04non-union people and everybody else.
42:06But we need people.
42:06And the farmers.
42:07And we're going to let people come in, but they
42:09want to come in.
42:10We want them to come in legally.
42:11They have to have the capability of loving our
42:13country, not people that hate our country.
42:15We don't want them in our country.
42:17And now we're going to pass the largest tax cuts
42:21in American history, and that's where we're
42:23relying on Mike and John Thune.
42:27And we will not cut Social Security, Medicare, or
42:30Medicaid benefits.
42:32And the Democrats will, because if they got in,
42:36the entire economy would collapse.
42:38This country is heading for a collapse under the
42:41people that you saw.
42:43They were horrible.
42:44I think one of the reasons people like the job.
42:46I have my highest approval ratings because I think
42:49they're comparing me to the worst administration
42:52in the history of our country.
42:53So I appreciate that, at least.
42:56But Speaker of the House Mike Johnson and Senate
42:59Majority Leader.
43:00Appreciate it, Mike.
43:01John Thune have been fantastic, by the way.
43:04But they've been working tirelessly on taking the
43:08next step to pass the plan for our one big,
43:12beautiful bill.
43:13I'd like to name it that, if you can.
43:15One big bill.
43:16I made that statement about six months ago, and
43:18everybody calls it one big, beautiful bill.
43:21And it will be that.
43:22It'll have everything.
43:23The big tax cuts and every incentive there is.
43:26And it'll be fantastic.
43:29And, by the way, for the cars, we're asking for an
43:31interest deduction on a loan.
43:33So if you build the car only in America, we do it,
43:36Brian.
43:37If the car is not built in America, you don't get the
43:39interest rate deduction.
43:40But if you build the car in America, if you buy a
43:43car, if it's built in America, then you get an
43:46interest rate deduction, tax deduction.
43:49And that's a big thing.
43:51That's going to be a big thing.
43:52I think that's going to pay for itself very
43:54quickly, that deduction.
43:55Never happened.
43:56We've never had anything like that before.
43:58Somebody said, where do you get the idea?
43:59Because it's so basic.
44:00You would think that would have happened a long time
44:02ago.
44:03It never did.
44:03And I'm very happy it didn't because now I can
44:07say that was my idea.
44:08But we're going to get us closer to the debt
44:13extension.
44:14We have to get the debt extension passed.
44:16And I know you're going to be able to do that, Mike.
44:18And it's very important that you do that.
44:20And all of the other things that the Senate
44:22budget plan gives us, along with working — because I
44:25know they're working together, John and Mike.
44:28And the two bills are going very well together.
44:30We need to get our shared priorities done, including
44:33certain permanent tax cuts.
44:35We want the tax cuts to be permanent.
44:37Spending cuts, energy, and historic investments in
44:40defense, border, and so much more.
44:42We're covering everything.
44:44These will be phenomenal.
44:46There'll be no bill like this.
44:47It's going to straighten — one bill is going to
44:49straighten out our country for many, many years to
44:51come.
44:52And we said, let's just do it and let's get it done.
44:56And some guys will love it and some guys will like
44:58it a little bit less because they're not
44:59getting what they were exactly looking for, but
45:02they're getting a lot.
45:03They'll never — if we get this done, it'll be the
45:06most incredible bill ever passed in the history of
45:09our Congress and Senate and congressmen.
45:13The senators and the congressmen, many of whom
45:15are here today, will be very proud of themselves.
45:17I really believe that it's going to set us on a whole
45:20new, prosperous path.
45:22We're going to cut spending and right-size
45:24the budget back to where it should be.
45:26We're going to do that very strongly.
45:28Thank you, Rick.
45:31Thank you, John.
45:33Oh, look at all of our senators over there.
45:36Oh, boy.
45:37That's a nice group of people.
45:39But I won't like them so much if they don't get
45:40this bill done.
45:41That's a great group.
45:44And, Congressman, thank you very much.
45:46I appreciate it.
45:47Tremendous people.
45:48The Senate plan is my complete and total support.
45:51And the House plan, likewise, is very similar.
45:54They're moving along pretty much at the same
45:56clip.
45:57And as soon as you're ready, you'll show it to
45:59me, and I'm sure it'll have my support, Mike.
46:01Every Republican congressman and senator
46:04must unify.
46:05We have to unify.
46:06We can't be separated.
46:08We have to get it done.
46:09We have to get absolutely everything we can.
46:11And we have to take care of the American people.
46:13That's the only thing that matters.
46:14We have to take care of the American people first.
46:17We need to pass this bill immediately.
46:20We have to get it done, including debt extension.
46:23From this day on, we're not going to let anyone
46:25tell us that American workers and families
46:28cannot have the future that they deserve.
46:30We're going to produce the cars and ships, chips,
46:33airplanes, minerals, and medicines that we need
46:36right here in America.
46:38The pharmaceutical companies are going to
46:40become roaring back.
46:41They're coming roaring back.
46:43They're all coming back to our country.
46:45Because if they don't, they got a big tax to pay.
46:48And if they do, I'll be very happy, and you're
46:51going to be very happy, and you're going to be
46:53very safe.
46:53We're going to build our future with American
46:56hands, with American heart, American steel.
46:59And we're going to build it with American pride
47:01like we used to.
47:03We're approaching our 100th day as President,
47:06and have been given credit by a lot of people,
47:10actually.
47:11Even some of the fake news.
47:13Can you believe it?
47:14Which, in this case, hopefully isn't fake.
47:17For having done more in that time than any other
47:19administration in the history of our country,
47:22in the first 100 days, I think we've had an
47:24amazing, in terms of what we've done, what we've
47:27gotten accomplished.
47:28I'd like to see if we can get that war ended, and
47:32another war from not starting in the Middle
47:35East.
47:36We have to get Russia.
47:37They're losing 2,000, on average.
47:39Two thousand five hundred people a day.
47:42Young people, soldiers, Russian.
47:45Think of that.
47:46Two thousand five hundred through some days, but on
47:50average, probably over about a one-week period.
47:53It's 2,712, they say.
47:57They're losing those soldiers.
47:58They're dying.
48:00They're being decimated.
48:01And they're not from our country, but they're from
48:04other countries.
48:05But they're human beings.
48:07They're from Russia.
48:08They're from Ukraine in this period, most of them.
48:11And we're going to get it stopped.
48:13It's a senseless war that would have never happened
48:15if I was President, and it shouldn't be allowed to
48:18go on.
48:19And I think we're being given good cooperation by
48:25Russia and by Ukraine, but we have to get it
48:27stopped.
48:28It's humanity.
48:29It's humanity.
48:29It's a terrible thing.
48:31This will be a very big moment.
48:34I think you're going to remember today, it's going
48:36to be a free nation that we're dealing with.
48:38We're going to have a very free and beautiful nation.
48:41It's going to be Liberation Day in
48:43America, and it's going to be a day that, hopefully,
48:46you're going to look back in years to come and you're
48:49going to say, you know, he was right.
48:50This has turned out to be one of the most important
48:53days in the history of our country.
48:55God bless you and God bless America.
48:57Thank you, everybody.
48:58Thank you very much.
48:59Thank you very much.
49:31We have two documents prepared for the President's signature today.
49:45One closes what's referred to as the de minimis loophole
49:48with respect to imports from the People's Republic of China.
49:55The other is, the big one is, the Reciprocal Tariff Executive Order
49:59that the President just spoke about at length.
50:01This is obviously a huge deal, and it's been an honor
50:04to be a part of your team getting this ready for you, sir.
50:06Thank you very much.
50:07Thanks, sir.
50:08This is big stuff.
50:33That's a 10.
50:34That's a good one.
50:35Look.
50:36That's a good one.
50:37That's a good one.
50:46Thank you, sir.
51:02Okay.
51:03Thank you very much.
51:04I'm going to hand out these pens now, if I can.
51:05Come on over.
51:07Yeah.
51:17Thank you, sir.
51:20I'm going to get the water.
51:32Thank you, everybody.
51:34Thank you, Mike.
51:36Get it done, Mike.
51:49Don't miss out.
52:03Log on to OneIndia.com for more updates.