Trump's Stance on Reciprocal Tariffs: Address to Congress
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Synopsis
In his inaugural address to Congress, President Trump announced reciprocal tariffs starting April 2, criticizing various nations for unfair trade practices. He pledged to combat inflation and bolster domestic manufacturing while addressing energy costs and tax policies.
Key Takeaways
- Reciprocal tariffs to start on April 2.
- Criticism of EU, China, and others for high tariffs.
- No tax on Social Security for seniors.
- Focus on boosting domestic manufacturing.
- Commitment to reduce energy costs.
Washington, March 5 (NationPress) US President Donald Trump, during his initial address to a joint Congressional session, announced that the reciprocal tariffs would be implemented starting April 2, reinforcing his administration's trade policy stance while criticizing the European Union, China, Brazil, India, and South Korea for their elevated tariffs.
He proclaimed, "Whatever they tax us, we tax them." Trump asserted, "For decades, other nations have imposed tariffs on us, and now it is our turn to respond. On average, countries like the European Union, China, Brazil, India, Mexico, Canada, and numerous others charge us significantly higher tariffs than we impose on them; this is incredibly unfair," stated Trump.
"India imposes a 100 percent tariff on us, while China's average tariff on our goods is double what we charge them. South Korea has an average tariff that is four times higher... the system has never been equitable for the US... starting April 2, reciprocal tariffs will be activated, meaning whatever they impose on us, we will impose on them... if they establish non-monetary tariffs to exclude us from their market, we will reciprocate with non-monetary barriers to keep them out of ours..."
"Goods imported from other nations and companies are often in poor condition. They might be unsanitary and detrimental to our American farmers," claimed Trump.
While criticizing the previous Democrat administration, he remarked, "We inherited an economic disaster and an inflation crisis from the last administration. Their policies inflated energy costs and made basic necessities unaffordable for millions of Americans... we are experiencing the highest inflation in 48 years... As president, I am committed to reversing this damage and restoring affordability in America."
As part of his push for tax deductions, Trump proposed that interest payments on car loans should be tax-deductible, provided the vehicles are manufactured in the US. He reiterated his dedication to enhancing domestic manufacturing, stating, "We aim to reduce taxes on domestic production."
He clarified that there would be no taxation on Social Security benefits for the elderly.
Trump emphasized his administration's dedication to reducing energy expenses as part of his strategy against inflation. He criticized the Biden administration for closing over 100 power plants and claimed, "We are currently reopening many of those power plants."
As Trump detailed the budget reductions his administration has purportedly achieved, Democrats voiced their dissent, responding with groans and shouts of "Not true!", "Nonsense!", and "Those are lies!"
The 78-year-old President declared he was "just beginning" his ambitious plans to transform the nation. "The American Dream is thriving -- more robust than ever before. The American Dream is unstoppable, and our nation is on the brink of an unprecedented comeback," he stated.
Trump praised the accomplishments of his initial six weeks in office, vowing to continue his controversial efforts to reform the US government and conclude the Ukraine conflict -- whatever the cost.
"We have achieved more in just 43 days than most administrations do in four or eight years -- and we are just beginning," Trump exclaimed as loyal lawmakers chanted, "USA, USA!"
