President Donald Trump adds China, India and Brazil to list of countries with high tariffs
US: President Donald Trump has said that the United States would impose tariffs on nations that “harm” America, naming China, India, and Brazil as high-tariff nations.
We will impose tariffs on foreign nations and individuals who pose a serious threat to our interests. At a retreat in Florida on Monday, the first since he was elected president for a second term last week, Trump told House Republicans, “They mean us harm, but they basically want to make their country good.”
Examine what other people do. Along with Brazil, India, and many other nations, China is a huge tariff maker. So we’re going to prioritize America, so we won’t allow it to happen any more,” he stated.
According to him, the United States would “very quickly” put in place a “very fair system where money is going to come into our coffers and America is going to be very rich again.”
The US should go back to the system that made it “richer and more powerful than ever before,” Trump said.
Trump made the following statement at his inaugural address last week: “We should be tariffing and taxing foreign nations to enrich our citizens, rather than taxing our citizens to enrich foreign nations.”
He said that under the American first economic model, taxes on American companies and workers would decrease while tariffs on other nations rise, and a significant number of manufacturing and jobs will return home.
Trump has previously discussed imposing 100 percent tariffs on the BRICS alliance, which also includes India.
In order to avoid tariffs, Trump invited businesses to establish manufacturing facilities in the United States during his speech.
You must construct your factory in America if you want to avoid paying taxes or tariffs. At record levels, that is what will occur. The motivation will be there since they have no tariff at all; therefore, we’re going to have more plants constructed in the near future than anybody ever imagined, he added.
According to the president, the US would help businesses establish operations in the country, especially those in sectors like steel, semiconductors, and medicines.
According to Trump, his government would also impose tariffs on copper, aluminum, steel, and other resources that the US military needs. We must return production to our nation. We used to be able to construct a ship every day, but now we are unable to do so. We have no idea what we’re doing. He responded, “It’s all gone to other places and other lands.”
We’re going to clean up our rare earth minerals for the environment in order to bring manufacturing back to the United States. In his speech, the president said that while we have some of the greatest rare earth resources in the world, we are not permitted to exploit them because environmentalists arrived first.
