Trump imposes sweeping tariffs on foreign trade partners
He made the announcement at a special event in the White House Rose Garden, according to an Ukrinform correspondent.
The tariffs will be imposed at a minimum rate of 10% on nearly all imports to the U.S., with different rates set for specific countries.
"For decades, our country has been looted, pillaged, raped, and plundered by nations near and far -- both friend and foe alike," Trump said at the beginning of his speech.
According to Trump, this has hurt American steelworkers, automakers, farmers, and skilled craftsmen.
"They really suffered gravely. They watched in anguish as foreign leaders have stolen our jobs, foreign cheaters have ransacked our factories and foreign scavengers have torn apart our once-beautiful American dream," Trump said.
He noted that the U.S. trade deficit has "reached a record $1.2 trillion," blaming the previous administration under Biden.
In response, the current government is introducing a base tariff of 10% on nearly all goods from most countries. Additionally, specific tariffs are being introduced for certain nations. For China, the rate is set at 34%, for the European Union at 20%, Japan at 24%, India at 26%, South Korea at 25%, the United Kingdom at 10%, and Israel at 17%.
x.com/RapidResponse47
A 10% tariff is also set for products from Ukraine.
Addressing other nations, Trump stated, "If you want your tariff rate to be zero, then you build your product right here in America."
x.com/RapidResponse47
The U.S. president called these measures a "declaration of economic independence." He stated that the revenue generated from tariffs would be used to "reduce our taxes and pay down our national debt."
Trump stressed that he is finally "putting America first," explaining that tariffs mean prioritizing the interests of Americans above all else.
"We truly can be very wealthy. We can be so wealthier than any country – it's not even believable, but we are getting smart," he said.
According to media reports, citing the U.S. administration, the new tariffs will take effect in phases. The general 10% tariff on imports from all countries will be implemented starting April 5, while the "reciprocal" additional tariffs will begin on April 9. Meanwhile, tariffs on imported cars (25%) will take effect at midnight on Thursday local time, and the 25% tariff on auto parts will be enforced starting May 3.
Photo: Sarah Silbiger / The New York Times
