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Economy Today, on Liberation Day, President Donald Trump officially implemented his long-anticipated tariffs, marking a significant moment in U.S. economic policy. During the “Make America Wealthy Again” event in the Rose Garden, Donald Trump has declared a historic moment for the United States – the “Day of Economic Independence.” On Liberation Day, Trump will officially sign a series of tariffs, targeting foreign-made automobiles and adopting a reciprocal tariff policy. These measures, according to the president, are aimed at reversing decades of economic imbalance and protecting American industry. During a speech, Trump announced that the U.S. would impose a 25% tariff on all foreign-made automobiles effective midnight. He highlighted the disparity in trade practices, pointing out that while the U.S. has historically charged just 2.5% on motorcycles and automobiles, countries like Thailand, India, and Vietnam levy tariffs exceeding 65%. Trump argued that such imbalances have contributed to the country’s economic woes, blaming both allies and adversaries for exploiting U.S. trade policies. The new tariffs are reciprocal, meaning the U.S. will now match the rates that other countries charge on American goods. Trump criticized Canada for imposing a 300% tariff on dairy products and noted that the U.S. subsidizes Canada by $200 billion a year and Mexico by $300 billion, questioning why the U.S. has allowed this to continue. According to Trump, these policies have led to the country’s debt and deficit, but he declared that this era of what he called “economic looting” is over. Trump also portrayed the day as a pivotal moment for American industry, proclaiming it as the beginning of a new era where jobs and factories will return to U.S. soil. He declared it one of the most important days in American history, emphasizing the revival of domestic production and the breakdown of foreign trade barriers. He…

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Filed under: News - @ April 2, 2025 8:25 pm