In his tariff announcement, President Trump had a warning for world leaders over their possible response.
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NewsTranscript
00:00are going to be extremely strong.
00:02Foreign nations will finally be asked to pay
00:04for the privilege of access to our market,
00:07the biggest market in the world.
00:09We're right now the biggest market in the world.
00:11We had a great country four years ago
00:14in terms of the economics.
00:16We were doubling up on China.
00:17We were doing so well.
00:18Nobody was going to catch us, but so much of it
00:21slipped away over the last four years under Biden.
00:24I campaigned on this policy throughout last year,
00:27and today that promise was made,
00:29and it was also a promise, as you know, that was kept.
00:32Promises made, promises kept.
00:34To any company that objects to our common-sense
00:41reciprocal tariffs, again, reciprocal,
00:44back and forth, back and forth.
00:47And we were — I call this kind reciprocal.
00:50This is not full reciprocal.
00:52This is kind reciprocal.
00:54But what we do is we cut it in half, we charge them.
00:58My answer is very simple if they complain.
01:00If you want your tariff rate to be zero,
01:03then you build your product right here in America,
01:05because there is no tariff if you build your plant,
01:08your product in America.
01:10And we've seen companies coming in
01:13like we've never seen before.
01:16Likewise, to all of the foreign presidents,
01:18prime ministers, kings, queens, ambassadors,
01:21and everyone else who will soon be calling to ask
01:24for exemptions from these tariffs,
01:26I say terminate your own tariffs, drop your barriers.
01:31Don't manipulate your currencies.
01:33They manipulate their currencies like nobody can even believe,
01:37which is a bad, bad thing and very devastating to us.
01:41And start buying tens of billions of dollars
01:43of American goods.
01:44Tariffs give our country protection against those
01:47that would do us economic harm.
01:50Many people were looking to do us economic harm.
01:53Maybe not so obviously,
01:57but they were doing tremendous economic harm.
02:00But even more importantly, they will give us growth.
02:02These tariffs are going to give us growth.