President Donald Trump signed the president's memorandum on Thursday, announcing the administration's plan to implement mutual tariffs with all US trading partners.
Trump said the plan would create a “level playing field” by charging foreign countries at the same rate as the US.
“Nothing else!”
The memo directed Howard Lutnick, the president's candidate for the Secretary of Commerce, to conduct a study to determine the amount of tariffs in each country. Lutnick predicted that these tariffs could be implemented as early as April 2nd.
“Traditionally, India is the highest country. They charge more tariffs than any other country,” Trump said Thursday. Press conference. “They charge incredible tariffs.”
Trump noted that he will be discussing trade with Indian Prime Minister Narendra Modi, whom he will meet Thursday afternoon.
“Whatever they charge us, we charge them,” Trump said. “It's a beautiful, simple system, and you don't have to worry about too much or too little charging.”
Trump also criticized the European Union and Canada for being unfair to the United States in trade issues. “The EU was very troublesome,” he continued. “They don't treat us properly.”
He explained that foreign companies could build factories in the US if they wanted to avoid tariffs. “If you build it here, there are no tariffs at all,” he declared.
Trump said the policy should have been implemented years ago, predicting it would be full of employment opportunities for the country.
Corporate media reporters have pushed Trump over tariffs that could raise prices for American consumers.
He replied, “Prices could rise slightly in the short term, but prices would also fall.”
“If they're there, remember [other countries] They're dropping their tariffs and American prices are coming down,” Rutnick explained. “It's two-way, and that's why it's called each other.”
Trump showed that he didn't expect his administration to implement mutual tariff policy exceptions, calling it one of the “most important things” he signed.
Trump wrote post True socially, “In trade, I have decided to charge for the purpose of fairness, the meaning of mutual tariffs.
“For the purposes of this US policy, we consider countries that use a VAT system that is far more punitive than tariffs, similar to those of tariffs. The country unfairly makes America stand unfair. It will not be accepted for harmful purposes,” he declared.
Like Blaze News? Bypass censorship, sign up for our newsletter and get stories like these directly into your inbox. Sign up here!
