Trump announces 10 per cent tariff on Australian exports to US

US President Donald Trump outlines the different tariffs he will impose on countries that import goods into the United States.

Transcript

00:00In short, chronic trade deficits are no longer merely an economic problem.

00:04They're a national emergency that threatens our security and our very way of life.

00:09It's a very great threat to our country.

00:12And for these reasons, starting tomorrow, the United States will implement reciprocal

00:16tariffs on other nations.

00:19But you see that you see the numbers.

00:21The numbers are so disproportionate, they're so unfair.

00:24At the same time, we will establish a minimum baseline tariff of 10 percent.

00:28You notice that on the chart.

00:31And that'll be on other countries to help rebuild our economy and to prevent cheating.

00:36So we're going to have a minimum of cheating, and we're going to be very severe on the people

00:40that at the gate that watch the tariffs and watch the product coming in, because there's

00:44been a lot of a lot of bad things happening at the gate because the money is so enormous

00:49that you're talking about.

00:51There's never been probably anything like it in terms of the enormity.

00:56And there are a lot of bad things happen that the people that do the check in and they're

01:00looking at 10 year jail sentences if they do play.

01:03We're going to treat them so good.

01:04But if they cheat, the repercussions are going to be extremely strong.

01:09Foreign nations will finally be asked to pay for the privilege of access to our market,

01:14the biggest market in the world.