WASHINGTON – President Donald Trump is announcing new global tariffs, calling it “Liberation Day” for the U.S.
The tariffs cover a wide-range of products and are targeting several countries, including Canada, Mexico, China and the European Union. All countries will have an immediate 10 percent baseline tariff on imported goods, and many are also getting hit with larger tariffs on top of that. Trump said there will be an immediate 25 percent reciprocal tariff on all foreign made vehicles.
Trump says trading partners have “looted, pillaged, and raped” American industries for decades, leading to a loss of U.S. jobs and manufacturing. He said there is no tariff “if you build in America,” adding that it’s part of his plan to “Make America Wealthy Again.”
“We’re gonna take care of our people first, and I’m sorry to say that,” Trump said during his speech.
“By ‘our people’ he means his rich friends. He sure as hell isn’t helping anyone living paycheck to paycheck,” Democratic Minnesota Senator Tina Smith wrote on X.
Critics claim the reciprocal tariffs are unfair and could lead to hyper-inflation.
