President Trump doubled mutual tariffs and called the April 2nd implementation date “liberating day.”
“April 2 is a liberating day for our country,” Trump told Air Force 1 reporters Sunday evening. “We're back to some of the wealth that a very stupid president gave, as the very stupid president didn't know what they were doing.”
Despite concerns about the economy and financial markets both in the US and overseas, Trump insisted that more tariff hikes would come.
When asked if he had a tendency to ease tariffs amid market uncertainty, he replied “No.”
“It's a day of liberation for our country, because we will reclaim many wealth that we have given up so stupidly to other countries, including our friends and enemies,” he said.
Trump said it would impose both broader mutual and sector-specific tariffs, including the steel sector and the aluminum sector for automobile production.
His plans have shaken the market and forced Canada to seek retaliation, but Trump said it will increase steel and aluminum tariffs from the planned 25% to 50%, depending on the Canadian electricity surcharge.
He has since returned some of the tariffs, including a month extension of some products from Canada and Mexico, as well as a decrease in the proportion of essential items such as energy and fertilizer.
Stocks around the world rose, and the US future immersed after Trump's remarks confirming the April 2 start date for the next tariff. The Associated Press reported.
