Trump tariffs reside information: President broadcasts reciprocal tariffs on U.S. buying and selling companions
Donald Trump is unveiling a raft of new tariffs in what the president has repeatedly billed as “Liberation Day.”
Trump promised to roll out reciprocal dollar-for-dollar tariffs on nations that levy duties on U.S. goods as part of an aggressive attempt to fulfill his administration’s America First agenda and correct years of what he deems “unfair” trade.
International markets wait tentatively as the president unveils his plans at a “Make America Wealthy Again” event in the White House Rose Garden shortly after U.S. markets closed for the day.
Plans remained under wraps with Trump’s team reportedly weighing options through Tuesday. However, White House Press Secretary Karoline Leavitt stated that the president had already decided his course of action and that the tariffs would go into effect almost immediately. The only way to avoid the new levies, she said, is to move production to the U.S.
It follows the liberal candidate for a critical seat on the Wisconsin Supreme Court, Susan Crawford, who defeated conservative Brad Schimel in a race seen as a referendum on Trump and his billionaire adviser Elon Musk.
Trump claims U.S. industry ‘reborn’ as he imposes sweeping tariffs on much-trailed ‘Liberation Day’
The Trump administration will levy an across-the-board tax on all imported goods purchased by Americans and levy additional taxes on imports from countries which officials deem to be placing unfair barriers on the importation or sale of American goods in an effort to forcibly undo decades of globalization and reindustrialize a U.S. economy that has become increasingly dominated by services and knowledge-based work in recent years.
Andrew Feinberg and Eric Garcia report for The Independent from Washington, D.C.
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Explaining ‘reciprocal’ tariffs, Trump says U.S. will tax half what other countries charge
President Donald Trump, explaining how his reciprocal tariffs plan will work, announces that the U.S. will tax imports at 50 percent of what each country taxes American goods.
For example, while China has a tariff on U.S. goods of 67 percent, Chinese goods imported into the U.S. will be taxed at 34 percent.
For the European Union, the corresponding figures are 39 percent on U.S. goods, and so a 20 percent tax on European goods imported into the States.
Other examples given include Vietnam (90% / 46%); Taiwan (64% / 32%); and Japan (46% / 24%).
The U.K., which taxes American goods at 10 percent, will also be tariffed at a 10 percent level — which the president says is the minimum base level for U.S. tariffs.
Trump Cabinet out in force for tariffs event
Among those in attendance at today’s “Make America Wealthy Again” event in the Rose Garden of the White House are Secretary of State Marco Rubio, Health and Human Services Secretary Robert F. Kennedy, Defense Secretary Pete Hegseth, Education Secretary Linda McMahon, Veterans Affairs Secretary Doug Collins, Transportation Secretary Sean Duffy, Housing and Urban Development Secretary Scott Turner, Commerce Secretary Howard Lutnick, Environmental Protection Agency administrator Lee Zeldin and Tulsi Gabbard, the director of national intelligence.
I will sign a historic executive order instituting reciprocal tariffs on countries throughout the world. Reciprocal, that means, they do it to us, and we do it to them. Very simple. Can’t get any simpler than that.
Trump confirms auto-sector tariffs effective from midnight
Trump confirms again that “effective at midnight, we will impose a 25 percent tariff on all foreign-made automobiles.”
Watch: Trump calls this one of most important days in American history
Trump says America has been pillaged and raped for decades ‘by friend and foe alike’
“My fellow Americans, this is Liberation Day,” President Donald Trump says before announcing his sweeping reciprocal tariffs. “For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike.”
Wall Street swings sharply in final hours of trading before Trump’s tariff announcement
The S&P 500 was virtually unchanged in late trading Wednesday, but only after careening between an earlier loss of 1.1% and a later gain of 1.1%. It’s had a pattern this week of opening with sharp drops only to finish the day higher.
The Dow Jones Industrial Average was up 31 points, or 0.1%, with an hour remaining in trading, and the Nasdaq composite was 0.3% higher. Both also veered from sharply lower in the morning to sharply higher in the afternoon and then doubled back.
Elon Musk’s Tesla helped knock the market around after initially falling more than 6% following a report that it delivered fewer electric vehicles in the first three months of the year than it did in last year’s first quarter.
Source: independent.co.uk
