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Donald Trump has said that the tariffs he is implementing today will go into effect at midnight. They will include a 25% tariff on all foreign-made automobiles...
Donald Trump was greeted with applause and cheers as the Navy band played "Hail to the Chief." Addressing the crowd, Trump said, "My fellow Americans, this is Liberation Day!"
The president told those present that "April 2, 2025, will forever be remembered as the day American industry was reborn. For decades, our country has been plundered and raped by nations near and far."
"I will sign a historic executive order that imposes reciprocal tariffs on countries around the world. Reciprocal, that means they do this to us and we do this to them," the President emphasized.
In a characteristic gesture, Trump asked Commerce Secretary Howard Lutnick to join him at the podium with a large board listing reciprocal tariffs country by country. Trump ran through some of the numbers.
He claimed that the European Union "rips us off," charging the U.S. 39% in tariffs. "We're going to charge them 20%, so we're essentially charging them half."
Trump has subsequently announced sweeping tariffs, saying he will sign an executive order announcing "reciprocal tariffs on countries around the world."
Donald Trump says the tariffs he has announced will generate "$6 trillion in investment," but experts explain that the tariffs are actually paid for by American businesses and consumers. That would make it the largest "tax hike" in U.S. history.
Trump has said the tariffs he is implementing today will go into effect at midnight. They will include a 25% tariff on all foreign-made automobiles.
The US president said tariffs ranging from 20 to 46% would be applied to foreign countries. Trump has said that world leaders who want an exemption from his "reciprocal tariffs" should change their trade policy.
"Take off your tariffs, take off your barriers, stop manipulating your currencies, and start buying tens of billions of dollars of American goods," Trump said.
He says the United States will implement "reciprocal tariffs" on all countries at "roughly half" of what they charge us, he said.
Pulling out a chart to show the audience, he indicated that China "charges" the United States a 67% tariff, so the United States will charge China a 34% tariff.
The chart also showed that the United States will impose a 20% tariff on the European Union, a 46% tariff on Vietnam, 32% on Taiwan, 24% on Japan, 26% on India, 25% on South Korea, 36% on Thailand and more.
A Detroit auto worker named Brian spoke while standing next to Donald Trump.
He says other UAW members support the president's policy of proposing a 25% tariff on all foreign-made cars.
"We support Donald Trump's policy of tariffs 100%," he said.
He has criticized the EU and Asian countries for imposing tariffs on US-made vehicles.
"The US applies a 2.4% tariff on imported engines. Meanwhile, Thailand and other countries are applying much higher tariffs, like 60%. India applies 70% and Vietnam 75%," he adds.
Trump said he would impose a 25% tariff on all vehicles manufactured overseas.
He says that over 80% of cars made in South Korea are sold in South Korea, and over 90% of cars sold in Japan are made in Japan, and that vehicles made in the US represent only a small share in these countries.
"Ford has very small sales" in other countries, a picture that has "destroyed" American industry. For this reason, as of midnight, we will be imposing a 25% tariff on all vehicles manufactured abroad," Trump says.
Donald Trump says the United States will impose "reciprocal tariffs" on all countries at "roughly half" of what they charge us, he said.
Pulling out a graph to show the audience, he showed that China "charges" the United States a 67% tariff, so the United States will charge China a 34% tariff.
The chart also showed that the United States will impose a 20% tariff on the European Union, a 46% tariff on Vietnam, 32% on Taiwan, 24% on Japan, 26% on India, 25% on South Korea, 36% on Thailand and more.
Trump imposes 10% tariff on all goods imported from the United Kingdom. Donald Trump has announced that the United States will impose a 10% tariff on all goods imported from the United Kingdom.
Trump said the United States will impose "reciprocal tariffs" on all charges other countries place against the US and said the United Kingdom charges the United States 10%.
The United Auto Workers Union has expressed its support for the president's automobile tariffs so far in his presidency.
The stock market closed today with the Dow Jones up 200 points, or 0.56% just minutes before Donald Trump appeared at the White House to kick off his "make America rich by announcing tariffs where it is expected to become rich again" event.
The S&P 500 rose 0.67%, while the Nasdaq Composite added 0.87%. / Prepared by Pamphlet /
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