President Donald Trump maintains his unwavering belief that his decisions have positively impacted the American economy, despite facing criticism from detractors.
Amidst escalating international tensions initiated by the United States, things continue to intensify as President Trump addresses the economic repercussions.
On April 2nd, Trump introduced his ‘Liberation Day’ plan, unveiling new tariffs on various countries, including allies and long-established trade partners.
The plan involves a 25 percent tariff on all foreign-made automobiles and a minimum 10 percent tariff on countries outside the USMCA free trade agreement with Mexico, Canada, and the US. Non-compliant countries are subject to a 25 percent increase, UK imports face a 10 percent tariff, and EU goods incur a 20 percent tariff.
While many international leaders express willingness to negotiate new deals to avoid these tariffs, they also threaten to impose their own on the US. China, in particular, appears to be entering into a new trade conflict with America.
Trump remains steadfast in his belief that this economic strategy will lead to the ‘rebirth’ of American industry and ultimately benefit the American public.
On Wednesday, April 9, the US government began collecting tariffs from 90 countries, including a significant 104% levy on China.
During a White House event on Tuesday, April 8, Trump shared details about the revenue generated from these tariffs. He claimed that the US was already “taking in almost $2 billion a day in tariffs.”
Additionally, Trump asserted that numerous countries are eager to negotiate deals to evade these tariffs.
He remarked: “These countries are calling me up, kissing my a**… they are dying to make a deal…”
In a jocular manner, Trump imitated these countries, adding, “Please, please, sir, make a deal. I’ll do anything.'”
He continued, emphasizing the positive impact of the tariffs: “I really think we are helped by the tariff situation that is going on which is a good situation, not bad, its great.
“It is going to be legendary, you watch, legendary in a positive way, I have to say.
“That is why additional tariffs on Chinese goods are in place effective midnight tonight at 104% until they make a deal with us that is what it is going to be.
“I think they’ll make a deal at some point, China wants to make a deal, they really do, they just don’t know how to get it started because they are proud people.”