While addressing the Congress, US President Donald Trump placed India, China, South Korea and many other countries among the countries imposing high tariffs on American imports. Trump said that whatever country imposes tariff on us, we are going to impose the same tariff against them. We have set the date of April 2 for this. Trump said that the tariffs are to make America rich and great again.
The US President said, 'Other countries have used tariffs against us for decades. Now it is our turn to use their weapon against those other countries. On average, the European Union, China, Brazil, India... and countless other countries charge us very high tariffs. In comparison, we charge less tariffs than them. This is very unfair. India charges us a 100% auto tariff, China charges us double the tariff, and South Korea charges four times the tariff. This is happening from both friend and foe. This system is not fair for America, it never was.'
'Reciprocal tariffs will be implemented on April 2'
Trump announced that reciprocal tariffs will be implemented on April 2. Whatever tariffs they impose on us, we will impose tariffs on them. Whatever 'tax' they impose on us, we will impose taxes on them. If they impose non-monetary tariffs to keep us out of their market, we will impose non-monetary barriers to keep them out of our market.
'Tariffs will generate huge revenue, create jobs'
Trump said that America has been looted by almost every country for many decades. Now we will not let this happen anymore. Tariffs will generate huge revenue. This will create unprecedented jobs. He said that from April 2, a new tariff will be implemented on foreign agricultural products coming to America. We will bring a new trade policy, which will be great for the farmers of America. I love farmers. Dirty and inferior foreign goods are coming to America, which is harming American farmers. He said that 25 percent tariffs have been imposed on foreign aluminum, copper, lumber, and steel. This is not just to protect American jobs, it is to protect the soul of our country.
'Mexico and Canada also cornered'
Trump also cornered Mexico and Canada. He alleged that Canada and Mexico allowed fentanyl to come to America at record levels. Thousands of Americans died due to this. We give subsidies to Canada and Mexico, but will not give any more.
This was also said during Prime Minister Modi's US visit.
In February, President Trump had said that his administration would soon impose retaliatory tariffs on countries like India and China, he also said this during Prime Minister Narendra Modi's US visit last month. Trump has made it clear to Prime Minister Modi that India will not be spared from America's retaliatory tariffs and stressed that no one can argue with him on the duty structure.
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