Trump’s much-anticipated “Liberation Day” resulted in the declaration of a “state of emergency” from the White House. The executive order, according to the Trump administration, aims to “increase our competitive edge” and “protect our national security.” His new wave of tariffs applies to almost all imports from 185 nations.
“This is one of the most important days, in my opinion, in American history. It’s our declaration of economic independence,” the President said in his address.
Due to the complexity of the tariffs, the White House, released a tariff “fact sheet” which stated: “Today, President Donald J. Trump declared that foreign trade and economic practices have created a national emergency, and his order imposes responsive tariffs to strengthen the international economic position of the United States and protect American workers.”
The fact sheet says, using his IEEPA authority, President Trump will impose a 10% tariff on all countries which will take effect on April 5th. “An individualized reciprocal higher tariff on the countries with which the United States has the largest trade deficits. All other countries will continue to be subject to the original 10% tariff baseline.”
“For Canada and Mexico, the existing fentanyl/migration IEEPA orders remain in effect, and are unaffected by this order. This means USMCA compliant goods will continue to see a 0% tariff, non-USMCA compliant goods will see a 25% tariff, and non-USMCA compliant energy and potash will see a 10% tariff,” the executive order stated.
“The President’s reciprocal trade agenda means better-paying American jobs making beautiful American-made cars, appliances, and other goods,” the White House claims, “These tariffs seek to address the injustices of global trade, re-shore manufacturing, and drive economic growth for the American people.”
Trump stated, “American steel workers, auto workers, farmers and skilled craftsmen … they really suffered gravely. They watched in anguish as foreign leaders have stolen our jobs, foreign cheaters have ransacked our factories, and foreign scavengers have torn apart our once beautiful American dream.”
By CEO NA Editorial Staff
