For far too long, the United States has been ripped off by countries across the globe — by allies and adversaries alike — with unfair trade practices.
These long-standing trade imbalances have led to offshoring manufacturing, undermined critical supply chains, and resulted in our defense-industrial base becoming dependent on foreign adversaries. Ultimately, the status quo trading system has failed our workforce, threatened our national security, and left small-town America behind.
After years of America being taken advantage of, President Trump is taking bold action to level the playing field.
In an effort to achieve both free and fair trade, President Trump announced new sweeping tariffs on more than sixty countries. The baseline is a 10% tariff on all imported goods, with some countries facing an additional reciprocal tariff. Specifically, each country’s tariff was calculated based on the U.S. trade deficit with that country, divided by the value of that country's exports to the U.S., and then cutting that figure in half.
Notably, Canada and Mexico are not subjected to these new tariffs, as President Trump recently applied a 25% tariff on goods from these neighboring countries. Additionally, adversaries such as Russia and North Korea are exempt because we already sanction these countries, which prevents any meaningful trade.
I certainly understand concerns about this bold tactic given drops in the stock market and overall uncertainty surrounding potential economic impacts. Many have acknowledged there may be some short-term pain, but that the end result will be long-term gain.
Tariffs are an incredibly powerful negotiating tool, one that President Trump has successfully used in the past to our benefit. In fact, the White House has confirmed nearly 70 countries are already coming to the table to negotiate.
Bottom line, President Trump’s tariffs offer a unique economic plan aimed at putting American workers and manufacturing first. Since returning to the White House, President Trump has already secured nearly $5 trillion in foreign investment and trade commitments. This latest effort is yet another way President Trump is reigniting our economy, restoring national and economic security, and bringing “Made in America” back.