Donald Trump Says US Will Impose Tariffs On All Countries: ‘Whole World Will Pay’
Donald Trump said, “We would start with all countries, so let’s see what happens”- signaling a blanket approach to tariffs.
US President Donald Trump announced that his administration will impose tariffs on all countries. Speaking aboard Air Force One, before what he called “Liberation Day" on April 2, Donald Trump said that tariffs would be applied universally. This is disparate from earlier plans to target only select nations that Donald Trump had declared.
Donald Trump said, “We would start with all countries, so let’s see what happens"- signaling a blanket approach to tariffs.
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Earlier, Washington said that it had been considering reciprocal tariffs aimed at countries with large trade imbalances or those imposing duties on American goods. But Donald Trump insisted that the US will introduce a sweeping policy that affects all nations equally.
He said, “They ripped us off like no country has ever been ripped off in history, and we’re going to be much nicer to them than they were to us. But it’s substantial money for the country nevertheless."
This comes as the US imposed 25 percent tariffs on Mexico and Canada, and 10 percent on China starting February 1. The move was denounced by Beijing as a “serious violation" of international trade norms as it called for the US to “engage in frank dialogue and strengthen cooperation."
Additional tariffs are set to hit automobile imports starting April 3 which may include duties on foreign computer chips, pharmaceuticals and oil imports from Venezuela. Mexico and Canada, which are already grappling with trade restrictions, are likely to face sweeping penalties on their auto and tech exports.
Denying that only specific nations will be targeted by tariffs, Donald Trump said, “We’ve been talking about all countries—no cutoffs"- clarifying that no nation would be exempt.
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