During his March 5, 2025, speech in Washington, D.C., Donald Trump introduced new tariffs on imports from China, Mexico, and Canada, emphasizing the need to protect American industries, create jobs, and strengthen domestic manufacturing. He argued that foreign trade practices have harmed U.S. businesses, making tariffs essential for rebalancing economic competition. While he highlighted the benefits of increased domestic production, potential countermeasures from trade partners could disrupt global commerce, leading to higher import costs and possible consumer price increases.

Additionally, Trump announced the establishment of the Department of Government Efficiency (DOGE) and praised Elon Musk for his efforts in reducing government waste. He noted that Musk, who was present at the event, is leading the initiative and commended his dedication, stating that even political opponents likely appreciate his work, even if they are unwilling to admit it.

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