Trump signs Reciprocal Trade and Tariffs plan
WASHINGTON (Gray DC) - President Donald Trump said Thursday the U.S. is being ripped off on trades throughout the world,and he has a plan to change that.
The United States has one of the lowest tariff rates in the world. Donald Trump says the nation’s trade deficit is too large, and the U.S. needs to operate on an even playing field.
“Whatever they charge us, we charge them, so it works out,” Trump said in the Oval Office. “It’s a beautiful, simple system.”
Trump has instructed his istration to look into the trade system with all U.S. trading partners.
The White House says it is looking into any practices from other countries they see as unfair.
“They cheat,” Counselor Peter Navarro said. “They misclassify stuff. They use all sorts of trans shipping, going through different countries. This, that and the other thing. And the president’s not going to tolerate that.”
Opponents of tariffs say they slow economic growth and increased costs directly to the consumer, which leads to an increase in the prices of all imported goods to Americans.
Trump says consumers could feel the effects.
“Prices could go up short term, but prices will also go down.”
The president said he believes this plan will force companies to make products within the U.S. to avoid tariffs, ultimately boosting the economy.
“If somebody wants to come in, including the car companies, if they want to come in and build car plants, they’ll do it without tariffs, and therefore prices won’t go up,” Trump said. “There could be some short-term disturbance, but long term it’s going to make our country a fortune.”
The White House expects the trade study to be completed by April.
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