President Donald Trump is showing no signs of deviating from his promise to implement comprehensive tariffs on almost every imported product starting this Wednesday. This also encompasses a substantial 104% tariff on goods coming from China.
On Tuesday evening, Trump delivered the main speech at the yearly gathering of the National Republican Congressional Committee in Washington, D.C. This occurred shortly following another downturn in market performance—a trend that has continued as stocks have sharply declined ever since his announcement of extensive tariffs covering nearly all imported goods, starting at a base rate of 10%. During his talk, Trump specifically called out numerous nations for facing additional tariff rates above this level, among them being China, which has been targeted prominently. vowed to "combat until the conclusion."
The president has defended the severe measures by asserting that his actions are "reciprocal." Nonetheless, the White House employed a calculation based on the trade imbalances the U.S. faces with various nations. falsely allege Those excessively high tariffs were imposed on American products. This tactic has faced widespread mockery, even so. by conservatives and Republican donors .
During his speech, Trump spoke about his "battle against the entire world" but later walked back those comments.
And I believe that this so-called war with the world isn’t really a war since everyone is converging here," Trump asserted. "Everyone is heading our way. Even Japan is en route right now; many representatives are aboard planes, all known for being formidable negotiators.
Trump then pivoted to China and bragged about the massive tariffs that are about to go into effect on the country. While doing so, Trump falsely stated that China will pay the tariff.
Currently, China is facing a 104% tariff," he stated, prompting applause from the audience. "Imagine this – a 104% rate. It might seem absurd, but numerous nations, including them, imposed high tariffs on various goods we imported—ranging from 100% to 125%. These countries took advantage of us repeatedly. However, now it’s time for us to take similar actions. This isn’t bad; instead, it will help strengthen our nation more than ever before.
The president has consistently asserted that exporting companies bear the cost of tariffs on products sent to the U.S. However, this statement is inaccurate because importers are actually the ones who pay these tariffs, with the additional costs typically being absorbed by customers through increased product prices.
Watch above via C-SPAN.
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