Trump Announces: Reciprocal Tariffs Effective Tonight, Billions of Dollars Will Flow Back to the U.S.
U.S. President Trump issued a statement on his social media platform, announcing that the previously proposed "reciprocal tariffs" measures will officially take effect at midnight tonight (12:00 Beijing time).
Trump stated that billions of dollars will begin to flow into the U.S., mainly from countries that have taken advantage of the U.S. for many years. He also emphasized that the only thing that can prevent America from being great is a radical left court that wants to see the country fail.
According to the implementation details of Trump's adjusted "reciprocal tariffs" executive order released by U.S. Customs and Border Protection, starting from midnight on August 7, U.S. Eastern Time, the U.S. will impose tariffs ranging from 10% to 41% on imported goods from 69 countries or regions. Additionally, trade partners such as Canada and Mexico will face extra tariffs of 25% and 35%.
Previously, the Trump administration had reached new trade agreements with several countries. For example, Japan agreed to increase its purchases of U.S. agricultural products by $8 billion and invest $550 billion in the U.S.; South Korea will fully open trade with the U.S. and accept U.S. products, including automobiles, trucks, and agricultural products; the European Union agreed to increase investments by $600 billion and purchase $750 billion worth of U.S. energy products.
Trump's reciprocal tariff policy aims to attract companies to build factories in the U.S. through high tariffs, promoting the return of manufacturing, while exerting economic and political pressure on the international stage. However, experts have pointed out that the tariff policy may ultimately be passed on to American consumers, increasing their burden and potentially weakening the stability of the global trade system.