President Donald Trump is showing no signs of deviating from his promise to implement comprehensive tariffs on almost all imported products 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 negative trading session for the market, which had been declining sharply ever since his announcement of extensive tariffs on nearly every import, starting at 10% as a base rate. Trump specifically called out numerous nations for potentially facing even greater tariff rates, among them being China, which has experienced considerable impact. vowed to "battle until the very end."
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 excessive duties have been imposed on American products. This tactic has faced widespread mockery, even by conservatives and Republican donors .
In his address, Trump spoke about being engaged in a "war with the 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 right now; for instance, people from Japan are en route. They're aboard planes filled with many individuals who are seasoned 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. "Can you believe it? A 104%! In the past, numerous countries imposed similar rates on various goods—some were even higher at 100%, 125%. These nations took advantage of us extensively. However, now we're going to return the favor; that's fair game. Our aim is to 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 it’s actually importers who cover the tariffs, with these costs often being transferred to customers through increased product prices.
Watch above via C-SPAN.
The post Trump Brags About His 'War on the Globe' Then Retracts - But Adds, 'Now It’s Our Turn' to Exploit Other Nations first appeared on DIWIDA.NEWS | .
