Photo: Alamy
[UPDATE: A later post from the Trump administration’s Rapid Response 47 X account added additional details concerning Chinese tariffs. More information can be found here.]
President Donald Trump is holding steady on his pledge to protect national security and economic resilience.
In his new Executive Order, signed Tuesday, he revealed that China now faces a 245 percent retaliatory tariff on imports into the United States due to their continued lack of negotiations with the 47th president regarding tariffs that China imposes on American industries.
In addition, the order closed existing loopholes that abated steel and aluminum tariffs and also instituted an investigation regarding the national security risks of U.S. reliance on foreign minerals.
During an interview with Sean Hannity on Fox News, White House Press Secretary Karoline Leavitt recently noted the power of reciprocal tariff policies. “We believe there could be several deals very soon. More than 75 countries have reached out to the administration, more than 15 offers are on the table.”
According to Reuters, Honda is now making its next car in the U.S. instead of Mexico due to the new tariffs.
A top Apple supplier is also considering moving production to the U.S. amid the trade war, according to the New York Post.
The U.S. House Committee on Ways & Means examined the first Trump-era manufacturing effects in January and concluded that 2017 pro-growth tax reforms boosted American manufacturing. They urged Congress to support these policies going into a second Trump administration to support a strong economy.
Last week, the White House celebrated the March Consumer Price Index, which reflected a decrease in inflation to 2.4%.
President Trump is now holding true to his tariff promise.
He posted to Truth Social on Tuesday night, stating, “The United States is taking in RECORD NUMBERS in Tariffs, with the cost of almost all products going down, including gasoline, groceries, and just about everything else. Likewise, INFLATION is down. Promises Made, Promises Kept!”