Trump issues new tariffs: “We are standing up for the American worker”
President Donald Trump has announced a 25% tariff on all foreign vehicles beginning at midnight ET on April 3, in what he called "one of the most important days" in American history.
In his address from the Rose Garden at the White House, Trump discussed tariffs imposed on the United States by countries including China, Canada, and Australia before unveiling his plan.
"The United States cannot continue with the policy of unilateral economic surrender," Trump said. "We have to take care of our people, and we have to take care of our people, first. Today, we are standing up for the American worker, and we are finally putting America first."
The president characterized trade deficits as a security threat: "In short, chronic trade deficits are no longer an economic problem, they are a national security problem," Trump stated. "Starting tomorrow, we are going to impose reciprocal tariffs."
The plan includes at least 10% tariffs on most imports, with higher rates targeting countries with large trade deficits with the U.S.—labeled “worst offenders.” Trump said he chose to implement 50% reciprocation rather than matching foreign tariffs completely, calling his tariffs “kind tariffs.” “You see the numbers, they're so disproportionate; they're so unfair," he said.
The president said automobile tariffs will be effective at midnight ET on April 3, while other tariffs will take effect at 12:01 a.m. ET on Saturday.
He noted that foreign companies manufacturing in America will avoid these tariffs, attributing current trade issues to previous administrations. “I blame former presidents and past leaders who weren't doing their job. They let it happen, and they let it happen to an extent that nobody can even believe,” he said.
President Trump also highlighted commitments from major corporations to invest in U.S. manufacturing, including Apple, Nvidia, Meta, Stellantis, Hyundai, and other automotive, technology, and pharmaceutical companies. "Companies all over the world have committed to build, build, build in the United States," he said. “(It) looks like we're going to have $6T in investments, and it will be much higher by the end of the year. We're going to be an entirely different country."
The president also mentioned plans for interest rate deductions for American-built vehicles and concluded by saying: "From this day on, we are not going to let anyone tell us American families cannot have the future they deserve. We're going to be Liberation Day in America and hopefully, you're going to look back in years to come and say, 'He was right, it was one of the most important days in America.'"
