Trump Targets Trade Imbalance with Reciprocal Tariffs
US President Donald Trump, in his first address to a joint session of Congress, said the reciprocal tariffs would take effect on April 2, reinforcing his administration’s stance on trade policy and criticising European Union, China, Brazil, India, and South Korea for high tariffs.
He said, “Whatever they tax us, we tax them.”Trump said.
“Other countries have used tariffs against us for decades, and now it is our turn to start using them against those other countries. On average, the European Union, China, Brazil, India, Mexico, Canada, and countless other nations charge us tremendously higher tariffs than we charge them; it is very unfair,” said Trump.
“India charges us tariffs 100 per cent, China’s average tariff on our products is twice what we charge them.. South Korea’s average tariff is four times higher… the system is not fair to the US, and it never was…on April 2, reciprocal tariffs kick in, and whatever they tariff us… we will tariff them…whatever they tax us, we will tax them. If they do non-monetary tariff to keep us out of their market, then we will do non-monetary barriers to keep them out of our market…”
“Those goods that come in from other countries and companies, they’re really, really in a bad position in so many different ways. They’re uninspected. They may be very dirty and disgusting as they come in, and they pour in and hurt our American farmers,” said Trump.
While hitting out at the previous Democrat regime, he said, “We inherited from the last administration an economic catastrophe and an inflation nightmare. Their policies drove up energy prices and drove the necessities of life out of reach for millions of Americans…we suffered the worst inflation in 48 years…As president, I am fighting every day to reverse this damage and make America affordable again”.
In a push for tax deductions, Trump said he wants to make interest payments on car loans tax-deductible, but only if the vehicles are made in the US. He also stressed his commitment to boosting domestic manufacturing, stating, “We want to cut taxes on domestic production.”
He clarified that there would be no tax on Social Security benefits for seniors.
Trump emphasised his administration’s commitment to lowering energy costs as part of his fight against inflation. He criticised the Biden administration for shutting down over 100 power plants and asserted, “We are opening up many of those power plants right now.”
As Trump outlined the budget cuts his administration claimed to have made, Democrats grew increasingly vocal, responding with groans and shouts of “Not true!,” “Bullshit!,” and “Those are lies!”
The 78-year-old President said he was “just getting started” on his radical plans to reshape the country. “The American Dream is surging — bigger and better than ever before. The American Dream is unstoppable, and our country is on the verge of a comeback the likes of which the world has never witnessed, and perhaps will never witness again,” he said
The president hailed the achievements of his first six weeks, vowing to press on with his polarizing bid to reshape the US government and end the Ukraine war — whatever the cost.
“We have accomplished more in 43 days than most administrations accomplish in four years or eight years — and we are just getting started,” Trump said to frequent chants from loyal lawmakers of “USA, USA!
