Trump announces 10 per cent tariff on Australian exports to US

Australian Community Media

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

Transcript

00:00But you see that you see the numbers. The numbers are so disproportionate. They're so unfair.

00:05At the same time, we will establish a minimum baseline tariff of 10 percent. You notice that

00:10on the chart. And that'll be on other countries to help rebuild our economy and to prevent cheating.

00:17So we're going to have a minimum of cheating and we're going to be very severe on the people that

00:21at the gate that watch the tariffs and watch the product coming in, because there's been a lot of

00:27a lot of bad things happening at the gate because the money is so enormous that you're talking

00:31about. There's never been probably anything like it in terms of the enormity. And there are a lot

00:37of bad things happen at the people that do the check in. And they're looking at 10 year jail

00:42sentences if they do play. We're going to treat them so good. But if they cheat, the repercussions

00:48are going to be extremely strong. Foreign nations will finally be asked to pay for the privilege of

00:54access to our market, the biggest market in the world. In short,

00:57chronic trade deficits are no longer merely an economic problem. They're a national

01:02emergency that threatens our security and our very way of life. It's a very great threat to

01:08our country. And for these reasons, starting tomorrow, the United States will implement

01:13reciprocal tariffs on other nations. It's been a long time since we even thought of that.

01:20We used to think about it a lot. We didn't think about it for many decades. And you see what's

01:25happened for nations that treat us badly. We will calculate the combined rate of all their tariffs,

01:31nonmonetary barriers and other forms of cheating. And because we are being very kind,

01:38we're kind people, very kind. You're not so kind when you get ripped off with salaries by

01:45autoworker friends and my teamster friends and all of the unions that typically voted Democrat.

01:51They're not voting Democrat anymore because worker, whether union or nonworker,

01:55they're for the Republicans now. That's what happened. But we will charge them approximately

02:01half of what they are and have been charging us. So the tariffs will be not a full reciprocal.

02:10I could have done that. Yes, but it would have been tough for a lot of countries. We

02:14didn't want to do that. I'd like to see the chart if you have it. China, first row, China, 67 percent.

02:21That's tariffs charged to the USA, including currency manipulation and trade barriers. So

02:2967 percent. I think you can, for the most part, see it. Those with good eyes with bad eyes.

02:34We didn't want to bring. It's very windy out here. We didn't want to bring out the

02:37big charts because it had no chance of standing. Fortunately, we came armed with a little smaller

02:43chart. So 67 percent. So we're going to be charging a discounted reciprocal tariff of 34 percent.

02:51I think, in other words, they charge us. We charge them. We charge them less. So how can

02:55anybody be upset? They will be because we never charge anybody anything. But now we're going to

03:00charge European Union. They're very tough, very, very tough traders. You know, you think of European

03:09Union, very friendly. They rip us off. It's so sad to say. It's so pathetic. 39 percent. We're

03:16going to charge him 20 percent. So we charge him essentially half. Vietnam, great negotiators,

03:22great people. They like me. I like them. The problem is they charge us 90 percent. We're

03:27going to charge them 46 percent tariff. Taiwan, where they make they took all of our computer

03:35chips and semiconductors. We used to be the king, right? We were everything. We had all of it.

03:40Now we have almost none of it except the biggest company is coming in. They're going to have we're

03:44going to end up with almost 40 percent. Lee Zeldin is working to get their approvals.

03:49And it's an amazing company. Mr. Wei of one of the great companies of the world. Actually,

03:54they're coming in from Taiwan and they're going to build one of the biggest plants in the world,

03:58maybe the biggest for that. But 64 percent, we're going to charge him 32 percent. Japan,

04:05very, very tough. Great people. And again, I don't blame the people for doing it. It's I think

04:11they're very smart and I blame the people that sat right in that Oval Office right over there,

04:16right behind the Resolute desk or whichever desk they chose.

04:20Japan, 46 percent. They would charge us 46 percent and much higher for certain items like cars,

04:27you know, little items like cars. Forty six percent. We're charging him 24 percent.

04:32India, very, very tough. Very, very tough. The prime minister just left. He's a great friend

04:39of mine. But I said, you're a friend of mine, but you're not treating us right. They charge us 52

04:44percent. You have to understand, we charge them almost nothing for years and years and decades.

04:48And it was only seven years ago when I came in. We started with China. Georgia,

04:55we took in hundreds of billions of dollars from China in tariffs. And they understood. Honestly,

05:03President Xi understood. He said, Look, I understand. And the other countries and they

05:07all understand we're going to have to go through a little tough love, maybe. But they all understand

05:12they're ripping us off. And they understood it. Prime Minister of Japan Shinzo was Shinzo Abe.

05:21He was a fantastic man. He was unfortunately taken from us. Assassination. But I went to him

05:28and I said, Shinzo, we have to do something. A trade is not fair. He said, I know that.

05:35I know that. And he was a great gentleman. He was a fantastic man. But he understood

05:42immediately what I was talking about. I said, Shinzo, we have to do something. He said, I know

05:46that. And we've worked out a deal and it would have been a much better deal. But frankly,

05:51there were many years left in the deal that was made previous to my getting there. But it was

05:55it was something. If you look at Switzerland, 61 percent to 31 percent, Indonesia, Malaysia,

06:03Cambodia. Oh, look at Cambodia, 97 percent. We're going to bring it down to 49. They made a fortune

06:10with the United States of America, United Kingdom, 10 percent. And we'll go 10 percent. So we'll do

06:16the same thing. South Africa, oh, 60 percent, 30 percent. And they've got some bad things going on

06:24in South Africa. You know, we're paying them billions of dollars. We cut the funding because

06:29a lot of bad things are happening in South Africa. The fake news ought to be looking at it. They

06:33don't want to report it. Brazil, 10 percent, 10 percent. Bangladesh is 74 percent. So you see

06:41what's going on. Pakistan, 58 percent. Sri Lanka, 88 percent. So what we're doing.

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