President Donald Trump unveiled new tariffs at a White House Rose Garden event yesterday, in which the President detailed sweeping ‘reciprocal’ tariffs on goods imported into the United States, in order to promote US manufacturing.

Mr. Trump opened his remarks declaring, “This is Liberation Day,” stating that “April 2, 2025 will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed and the day that we began to make America wealthy again.”

The President aid he would sign a “historic executive order instituting reciprocal tariffs on countries throughout the world … Reciprocal. That means they do it to us and we do it to them. Very simple. Can’t get any simpler than that.”

Trump confirmed that his administration will impose 25% tariffs on auto imports starting Thursday at midnight: “None of our companies are allowed to go into other countries. That’s why, effective at midnight, we will impose a 25% tariff on all foreign made automobiles.”  He later held up a chart while speaking, showing the United States would charge a 34% tax on imports from China, a 20% tax on imports from the European Union, 25% on South Korea, 24% on Japan and 32% on Taiwan.

In announcing the tariffs the President said: “It’s our declaration of economic independence. For years, hardworking American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense. But now it’s our turn to prosper. Taxpayers have been ripped off for more than 50 years … But it is not going to happen anymore.”

Trump added that “jobs and factories will come roaring back” and that the reciprocal tariffs will usher in a “golden age” for the country: “We will supercharge our domestic industrial base, we will pry open foreign markets and break down foreign trade barriers and ultimately more production at home will mean stronger competition and lower prices for consumers.”

Editorial credit: bella1105 / Shutterstock.com