Trump announces tariffs at ‘Make America Wealthy Again’ event
- President Trump announced tariffs at the "Make America Wealthy Again" event on Wednesday at 4 p.m. EDT in the White House Rose Garden.
- Trump stated that tariffs were needed because trade partners had harmed U.S. Industries for 50 years using unfair practices.
- The announcement cited studies that purported tariffs during Trump's first term strengthened the U.S. Economy and led to re-shoring.
- Trump said, "For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike".
- Economists warned the tariffs, which include 25% on foreign-made vehicles, could trigger a global recession and raise prices for consumers.
20 Articles
20 Articles
Trump slaps more tariffs on foreign trade friends and foes
US President Donald Trump Wednesday announced sweeping tariffs on over 164 global trade partners during a White House event dubbed “Make America Wealthy Again” and “Liberation Day.” The tariffs, aimed at addressing trade imbalances and boosting U.S. manufacturing, include a baseline 10% rate on all imports, with higher “reciprocal” tariffs—set at roughly half of what other nations charge the U.S.—on 60 countries.
Snap Insight: ‘Make America wealthy again’? Latest Trump tariffs will only make trade with US more complex and uncertain
Even countries that have free trade agreements with the United States have been slapped with tariffs after President Donald Trump declared trade deficits a national emergency, says Deborah Elms of the Hinrich Foundation.
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