LIBERATION DAY: Trump announces ‘reciprocal tariffs’ on every nation, 25% tariffs on every foreign-made auto
President Donald Trump delivered a much-anticipated speech from the Rose Garden on Wednesday, on what his administration has termed “Liberation Day.” Trump has been speaking about plans for tariffs since he took office and April 2 was the designated day for the announcement of the official plans.
As he made his announcements, Trump said that “effective at midnight, we will impose a 25 percent tariff on all foreign-made automobiles.” Every nation will see a reciprocal tariff, meaning that, in most cases, the US will charge nations about half of what those nations are charging the US.
“April 2, 2025, will forever be known as the day American industry was reborn,” Trump told the assembled crowd, “the day America’s destiny was reclaimed.” He said this would be the day to “make America wealthy again.”
We’re “going to make it wealthy, good and wealthy. For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike. American steel workers, auto workers, farmers and skilled craftsmen. We have a lot of them here with us today. They really suffered gravely. They watched in anguish as foreign leaders have stolen our jobs.”
“Foreign cheaters have ransacked our factories, and foreign scavengers have torn apart our once beautiful American dream,” he continued. “We had an American Dream that you don’t hear so much about. You did four years ago, and you are now, but you know too often, for many years and decades, even you didn’t hear too much about our country and its taxpayers have been ripped off for more than 50 years. But it is not going to happen anymore. It’s not going to happen,” Trump said.
He promised that he would “sign a historic Executive Order instituting reciprocal tariffs on countries throughout the world. Reciprocal. That means they do it to us and we do it to them. Very simple. Can’t get any simpler than that.”
He called the day “one of the most important days… in American history. It’s our declaration of economic independence.” He promised further that with these changes, “jobs and factories will come roaring back into our country, and you see it happening already. We will supercharge our domestic industrial base. We will pry open foreign markets and break down foreign trade barriers, and ultimately, more production at home will mean stronger competition and lower prices for consumers. This will be, indeed, the golden age of America. It’s coming back. We’re going to come back very strongly.”
Trump went through a list of nations and his plans on what tariffs would be charged on those nations. Among these: China 34%, though that is less, Trump said, than what China currently charges the US. EU 20%, also less than the economic zone’s 39%. Vietnam 46%, though they charge the US 90%. Taiwan 32%, though they charge the US 64%. Japan 24%, nearly half of what they charge the US at 46%. The UK will see a tariff of 10%, which is what they charge America.
“These tariffs are going to give us growth like you’ve never seen before. And it’ll be something very special to watch,” he said.
