Trump announces ‘historic’ tariffs as he says America’s been ‘looted, pillaged’
OFM:March.02/2025-President Donald Trump on Wednesday unveiled a long-promised, sweeping set of baseline tariffs on all countries and what he described as semi-reciprocal tariffs on nations he claimed were the worst offenders in trade relations with the U.S.
“My fellow Americans, this is Liberation Day,” Trump said as he kicked off his remarks in the Rose Garden, claiming the action will free the U.S. from dependence on foreign goods.
“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,” he said.
The new measures — which Trump described as “historic” — include a minimum baseline tariff of 10% and more “reciprocal” levies on certain countries like China, the European Union and Taiwan.
“We will charge them approximately half of what they are and have been charging us,” he said as he held up a chart with a list of nations and what the new tariffs against them will be, saying, “we are being very kind.”
Wednesday’s announcement is a moment months in the making for the president, but one that comes with significant political and economic risk.
Source’ABC News’