After weeks of anticipation, standing in the White House’s Rose Garden, US President Donald Trump reset American trade policy as he unveiled sweeping new tariffs on trading partners, calling it a “declaration of economic independence”.
Explaining his tariff policy, Trump said, “For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike,” stressing that trade abuse by allies was often more intense than that committed by rivals.
“This is one of the most important days, in my opinion, in American history. It’s our declaration of economic independence,” he added. “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.”
Content retrieved from: https://www.firstpost.com/explainers/donald-trump-liberation-day-tariffs-takeaways-india-recession-explained-13876773.html.
