President Donald Trump unveiled a new policy from his Agenda47 platform this week, highlighting what he called the “Trump Reciprocal Trade Act,” which would “put American workers on a level playing field.”
In a new policy video released on Wednesday, Trump explained how he would combat the “record trade deficits” that have been run up by Joe Biden, resulting in the loss of “countless jobs and trillions and trillions of dollars of wealth” in America.
He said, “If India, China, or any other country hits us with a 100 or 200 percent tariff on American-made goods, we will hit them with the same exact tariff. In other words, 100 percent is 100 percent. If they charge us, we charge them —an eye for an eye, a tariff for a tariff, same exact amount. One thing is going to happen: probably they drop the tariff, but if they don’t, that’s okay. We’ll take in plenty of money.”
Trump further clarified that this would force other countries to either eliminate their tariffs on the U.S. or “pay us hundreds of billions of dollars, the United States will make an absolute fortune.”
“This will especially help our great farmers in Iowa and other agricultural states, and it will help our manufactures all across the nation,” he added.
The Trump campaign also shared a few benefits of raising tariffs on foreign countries:
- “As tariffs go up, taxes on American workers, families, and businesses can come down,
- Raising tariffs on foreign producers while lowering taxes for domestic producers will help keep jobs and wealth in the United States,
- Higher tariffs create millions of new jobs, increase real household income, boost GDP, increase domestic manufacturing output, and generate hundreds of billions of dollars in new government revenue.”
Trump continued, “We must have fairness and reciprocity. That’s the word—reciprocity. They do it to us; we do it to them. This will be a key part of our strategy to return jobs and wealth to the United States and launch an economic boom that will lift up our middle class and eliminate our dependence on China and other countries.”
The president said that the U.S. has “been the whipping post for everyone else” on the foreign stage. “We have been a country that was disrespected on trade, and frankly, disrespected on just about everything,” he stated. “No more.”
Previously, Trump has put forth an America First agenda on curbing Chinese aggression and terminating America’s dependence on them in terms of manufacturing and trade. His policy includes revoking China’s “most favored nation” status, RSBN reported.