Posted on 04/02/2025 6:05:51 PM PDT by SoConPubbie
President Donald Trump announced today the implementation of a 10% baseline tariff on all imports, effective April 5, 2025. This decisive action aims to correct decades of unfair trade practices that have disadvantaged American workers and industries.
Speaking from the White House Rose Garden, President Trump proclaimed April 2 as “Liberation Day,” marking a new era of economic independence. He emphasized that this measure is essential to protect American jobs and revitalize domestic manufacturing.
“For too long, other nations have taken advantage of our open markets while imposing barriers to our products. Those days are over,” the President asserted.
Trump added via Fox News:
“American steel workers, auto workers, farmers and skilled craftsmen,” Trump said from the White House Rose Garden Wednesday afternoon. “We have a lot of them here with us today. 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. We had an American dream that you don’t hear so much about. You did four years ago, and you are now. But you don’t too often.”
“Now it’s our turn to prosper, and in so doing, use trillions and trillions of dollars to reduce our taxes and pay down our national debt,” he said. “And it will all happen very quickly. With today’s action, we are finally going to be able to make America great again, greater than ever before or. Jobs and factories will come roaring back into our country and you see it happening already. We will supercharge our domestic industrial base.”
“For nations that treat us badly, we will calculate the combined rate of all their tariffs, nonmonetary barriers and other forms of cheating. And because we are being very kind, we will charge them approximately half of what they are and have been charging us. So the tariffs will be not a full reciprocal. I could have done that. Yes. But it would have been tough for a lot of countries,” he said.
“For decades, the United States slashed trade barriers on other countries, while those nations placed massive tariffs on our products and created outrageous non-monetary barriers to decimate our industries,” Trump said. “And in many cases, the non-monetary barriers were worse than the monetary ones. They manipulated their currencies, subsidized their exports, stole our intellectual property, imposed exorbitant taxes to disadvantage our products, adopted unfair rules and technical standards, and created filthy pollution havens.”
“From 1789 to 1913, we were a tariff-backed nation. And the United States was proportionately the wealthiest it has ever been,” he said. “So wealthy, in fact, that in the 1880s they established a commission to decide what they were going to do with the vast sums of money they were collecting. We were collecting so much money so fast, we didn’t know what to do with it. Isn’t that a nice problem to have?”
“And my answer is very simple. If they complain, if you want your tariff rate to be zero, then you build your product right here in America. Because there is no tariff. If you build your plant, your product in America. And we’ve seen companies coming in like we’ve never seen before,” he said.
The White House released a detailed chart showing how badly many countries have been ripping off American workers, charging high tariffs on U.S. goods while benefiting from America’s generosity in return.
The White House fact sheet released today clarified that Canada is exempt from the reciprocal tariff announcement.
This exemption comes after a series of trade tensions between the U.S. and Canada. In February 2025, the U.S. imposed a 10% tariff on Canadian energy imports and a 25% tariff on other Canadian goods, prompting Canada to respond with its own tariffs on American imports. Subsequent negotiations led to temporary suspensions and adjustments of these tariffs.
Ontario Premier Doug Ford proposed that Canada eliminate tariffs on U.S. imports if President Trump reciprocates. Ford emphasized that mutual tariff removal would benefit both economies and urged cooperation for greater prosperity and safety.
However, according to the New York Post, Ford lacks the federal authority to enact such policy changes.
Country | Tariffs Charged to the U.S.A. | U.S.A. Discounted Reciprocal Tariffs |
---|---|---|
Argentina | 10% | 10% |
Australia | 10% | 10% |
Bangladesh | 74% | 37% |
Botswana | 74% | 37% |
Brazil | 10% | 10% |
Cambodia | 97% | 49% |
Chile | 10% | 10% |
China | 67% | 34% |
Colombia | 10% | 10% |
Costa Rica | 17% | 10% |
Côte d’Ivoire | 41% | 21% |
Dominican Republic | 10% | 10% |
Ecuador | 12% | 10% |
Egypt | 10% | 10% |
El Salvador | 10% | 10% |
European Union | 39% | 20% |
Guatemala | 10% | 10% |
Honduras | 10% | 10% |
India | 52% | 26% |
Indonesia | 64% | 32% |
Israel | 33% | 17% |
Japan | 46% | 24% |
Jordan | 40% | 20% |
Kazakhstan | 54% | 27% |
Laos | 95% | 48% |
Madagascar | 93% | 47% |
Malaysia | 47% | 24% |
Morocco | 10% | 10% |
Myanmar (Burma) | 88% | 44% |
New Zealand | 20% | 10% |
Nicaragua | 36% | 18% |
Norway | 30% | 15% |
Pakistan | 58% | 29% |
Peru | 10% | 10% |
Philippines | 34% | 17% |
Saudi Arabia | 10% | 10% |
Serbia | 74% | 37% |
Singapore | 10% | 10% |
South Africa | 60% | 30% |
South Korea | 50% | 25% |
Sri Lanka | 88% | 44% |
Switzerland | 61% | 31% |
Taiwan | 64% | 32% |
Thailand | 72% | 36% |
Trinidad and Tobago | 12% | 10% |
Tunisia | 55% | 28% |
Turkey | 10% | 10% |
United Arab Emirates | 10% | 10% |
United Kingdom | 10% | 10% |
Vietnam | 90% | 46% |
Trump was just handed a large poster and he is now going through every country with unfair tariffs against the U.S.
Trump is making comments on each country, explaining how they’re screwing the US off, and says he’s tariffing them.
We are SO BACK. pic.twitter.com/A8PLBIqKa2
— Eric Daugherty (@EricLDaugh) April 2, 2025
And he also said “Then in 1929 it all came to a very abrupt end with the Great Depression. And it would have never happened if they had stayed with the tariff policy”.
Somebody is going to have to help me out here. Smoot-Hawley, which RAISED tariffs in all sectors was passed in 1930. Sounds to me that increased tariffs lengthened the Great Depression.
I voted for that.
ironically., the fed res’ sales pitch was that it would prevent the cycle of boom and busts , only to immediately create an easy credit boom , the roaring 20’s, followed by the GREAT depression.
had zero to do with tariffs.
50% matching for tariffs larger than 10%. It pays to go big.
Then someone is going to have to educate Trump on this one
Then someone is going to have to educate Trump on this one.
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how do you come to that conclusion ?
Read his words man! “Then in 1929 it all came to a very abrupt end with the Great Depression. And it would have never happened if they had stayed with the tariff policy”.
Trump said the Great Depression was caused by tariffs
Yet you say tariffs had nothing to do with the Great Depression.
So.... who’s right?
Great Depression..... would have never happened if they had stayed with the tariff policy”.
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bro , you need to work on your reading comprehension.
if they had stayed with tariffs and not gone to income tax to fund the gov.
What happened to Canada and Mexico?
The Great Depression actually began in farm country a few years before the Stock market crash. Commodity prices were crashing, hurting the farmers, then the drought.
Dragging it out until april 9 now.
If he tries hard the nasdaq will be another 20 percent lower :)
The positive results wont be seen for several years unfortunately...after the midterms.
The Great Depression actually began in farm country a few years before the Stock market crash. Commodity prices were crashing, hurting the farmers, then the drought.
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Then came the banking crisis from 1930-1933 where banks were dropping like dominoes.
It’s hard to make a purchase when you can’t get your money.
Also, when banks did reopen many depositors never recovered their deposits. My great grandfather got 8 or 10 cents on the dollar.
Bookmark
All those countries were collecting those tariffs for years because they knew that Uncle Sugar would pay them without complaint.
Now let’s see what they do in response.
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