The decision made by Trump to impose tariffs on nearly every country in the world has been a hot topic in recent days and while governments are overwhelmed by this drastic move, he justifies his choices claiming the States are the victim of “unfair trade.”
Trump announced the new round of tariffs, including 125% rate on goods imported from China, on April 2, referring to the decision as to a “Liberation Day.”
Introducing these significant changes to US trade policy, he described his move as a “declaration of economic independence.”
While a number of leaders from different countries are willing to avoid the tariffs by striking deals, others announced imposing tariffs to the USA on their own, most notably China, who now seems to have found itself in a trade war with the States.
As he receives criticism from many, Trump asks from his people to trust his judgement, claiming that his politics will ultimately benefit them and will lead to the American industry being reborn.
On Tuesday, April 8, the POTUS revealed how much money the country is reportedly making from the tariffs.
According to Trump, US was already “taking in almost $2 billion a day in 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.”
If you wonder how the tariffs for different countries are determined, the president argues that they are “reciprocal,” meaning, as he put it, “they charge us, we charge them.”
The administration’s tariff strategy is not always easy to follow. In general, countries that sell more goods to the US than they buy face increased tariffs.
Even if a country has no trade surplus, the administration imposes an additional charge at a universal baseline rate of 10%.
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