Trump imposes massive tariffs on foreign trading partners

As reported by an Ukrinform correspondent, he made this statement at a special event in the White House Rose Garden.

Tariffs will be set at a minimum rate of 10% on virtually all U.S. imports, with different rates applied to individual countries.

“For decades, our country has been plundered and devastated by nations near and far, by allies and adversaries alike,” Trump said at the start of his speech.

Trump said it had hurt American steelmakers, the auto industry, farmers and skilled workers.

“They have indeed suffered significant losses. They have watched in bitterness as foreign leaders have taken our jobs, foreign crooks have robbed our factories, and foreign speculators have destroyed our once-glorious American dream,” Trump added.

He stressed that the US trade deficit “has reached a record high of $1.2 trillion,” blaming the previous Biden administration for this.

In response, the current government is imposing a basic tariff of 10% on almost all goods from most countries. In addition, special tariffs are provided for some countries. For China, the rate will be 34%, for the European Union – 20%, for Japan – 24%, for India – 26%, for South Korea – 25%, for the UK – 10% and for Israel – 17%.

x.com/RapidResponse47

A tariff of 10% has also been set for products from Ukraine.

Addressing other countries, Trump said: “If you want your tariff rate to be zero, you have to make your product right here in America.”

x.com/RapidResponse47

The US president called the measures a “declaration of economic independence.” He added that revenue from the tariffs would be used to “reduce our taxes and pay down the national debt.”

Trump stressed that he was finally “putting America first,” explaining that the tariffs meant prioritizing American interests above all else.

“We can actually become very rich. We can be much richer than any other country – it's hard to believe, but we are becoming smarter,” he said.

According to media reports citing the US administration, the new duties will be introduced in stages. A general tariff of 10% on imports from all countries will be introduced on April 5, and “reciprocal” additional duties will come into effect on April 9. At the same time, duties on imported cars (25%) will come into effect at midnight on Thursday local time, and a 25% tariff on auto parts will be implemented on May 3.

Photo: Sarah Silbiger/The New York Times