Trump unveils reciprocal tariffs at 'Liberation Day' White House event

Business Insider

President Donald Trump announced sweeping tariffs on dozens of nations during a White House event he dubbed 'Liberation Day.' Here are some key moments.

Transcript

00:00In a few moments, I will sign a historic executive order instituting reciprocal tariffs on countries

00:07throughout the world.

00:09Reciprocal.

00:10For decades, our country has been looted, pillaged, raped, and plundered by nations

00:14near and far, both friend and foe alike.

00:18The United States charges other countries only a 2.4 tariff on motorcycles.

00:25Meanwhile, Thailand and others are charging much higher prices, like 60 percent, India

00:32charges 70 percent, Vietnam charges 75 percent, and others are even higher than that.

00:38That's why, effective at midnight, we will impose a 25 percent tariff on all foreign-made

00:44automobiles.

00:45We import virtually all of our computers, phones, televisions, and electronics.

00:50We used to dominate the field, and now we import it all from different countries.

00:55A single shipyard in China now produces more ships every year than all of the American

01:01shipyards combined.

01:02Think of that.

01:03And it was a business that we used to dominate.

01:06We used to dominate it totally.

01:07China, first row.

01:09China, 67 percent.

01:11That's tariffs charged to the USA, including currency manipulation and trade barriers.

01:18So 67 percent.

01:20I think you can, for the most part, see it.

01:22So it's 67 percent.

01:24So we're going to be charging a discounted reciprocal tariff of 34 percent.

01:28I think, in other words, they charge us.

01:31We charge them.

01:32We charge them less.

01:33So how can anybody be upset?

01:34They will be because we never charge anybody anything.

01:37But now we're going to charge.

01:39Vietnam, great negotiators, great people.

01:42They like me.

01:43I like them.

01:44The problem is they charge us 90 percent.

01:46We're going to charge them 46 percent tariff to any company that objects to our common

01:51sense reciprocal tariffs, again, reciprocal back and forth, back and forth.

01:57And we were I call this kind reciprocal.

02:00This is not full reciprocal.

02:02This is kind reciprocal.

02:04But what we do is we cut it in half.

02:07We charge him.

02:08My answer is very simple.

02:09If they complain, if you want your tariff rate to be zero, then you build your product

02:14right here in America, because there is no tariff if you build your plant, your product

02:18in America.

02:19Here are just a short list of some of the companies that have already announced and

02:24committed to investment.

02:26And this is a company that built its factories and its plants in China.

02:32Apple is going to spend 500 billion dollars.

02:37They never spent money like that here.

02:39They're going to build their plants here.

02:41SoftBank, OpenAI, and Oracle, great, great companies, are investing 500 billion dollars

02:50almost immediately.

02:51Nvidia, a hot company, is investing hundreds of billions of dollars.

02:56They just announced.

02:57TSMC, the biggest, most important company in the world of chips from Taiwan, with no

03:03investment from us, is investing 200 billion.

03:07And they said the reason was, number one, the election of November 5th, and number two,

03:12the tariffs.

03:13They don't want to pay the tariffs, and the way they're not paying it is to build their

03:16plant here.

03:17Johnson & Johnson, great company, 55 billion dollars.

03:20Eli Lilly, 27 billion.

03:23Meta is investing 500 billion dollars.

03:28Wow.

03:29Demac is investing 20 billion.

03:33CMA, CGM, 20 billion dollars.

03:36And then you have Merck, and Clarius, Stellantis, General Motors, GE Aerospace, Honda, Nissan.

03:43Hyundai are all putting in billions and billions of dollars, and they're committed 100 percent.

03:49We're going to produce the cars and ships, chips, airplanes, minerals, and medicines

03:54that we need right here in America.

03:57The pharmaceutical companies are going to become roaring back.

04:00They're coming roaring back.

04:02They're all coming back to our country, because if they don't, they've got a big tax to pay.

04:07And if they do, I'll be very happy, and you're going to be very happy, and you're going to

04:11be very safe.

04:12We're going to build our future with American hands, with American heart, American steel,

04:18and we're going to build it with American pride like we used to.

04:21Anybody like a hat?

04:23I'm giving it, I'm not giving it to a cabinet, I'm giving it to the autoworkers, come here.

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