Truth Details

United States, which a lot of countries do, including
our allies. Our allies, in many cases, are worse than our enemies in this, having to do with trade.
And this has been going along. That's why we have a $36
trillion
amount of money that we owe. We owe 36 trillion dollars, but that'll come down rapidly. Likewise, provisions will be made for non-monetary
tariffs and
a non-monetary
— that's where
They charge and they do things that aren't,
there's no dollar amount, but they make it impossible for you to do business.
They do tests on cars, like dropping a bowling ball on the
hood of a car. If the hood doesn't withstand it, which no hood would except for an Army tank,
then they say, I'm sorry, you can't sell your car into
a certain country. That's a non-monetary
tariff. So
this is in order to take economic advantage.
Likewise,
the provisions for the non-monetary
tariffs and trade barriers that some countries charge,
and most countries, many countries have something to that effect in order to keep our product out of their domain,
or if they do not even let the U.S. Businesses operate. So, in some countries,
they just won't let us even operate there.
They charge us a lot, but they won't even let us go in. And we have many of them.
And what
our Secretary of commerce,
standing right behind me, Howard Lutting.
What he's going to be doing is he's going to come up with a number that's an equivalent number to that. But in many countries, not too many, but quite a few,
they don't let us do business. They effectively don't let us do business. So we're going to
put
a number on that that is a fair number. We're able to accurately determine the cost of these non-monetary
trade barriers,
and we'll be able to do that very accurately.
It's fair to all. No other country can complain. And in some cases, if a country feels that the United States would be getting too high a tariff,
all they have to do is reduce or terminate their tariff against us, in which case we're going to pay the same thing. There is no tariff. So if they have a tariff
and then they complain that this is too high, all they have to do is reduce their tariff or not charge it. I think there'll be
certain countries, it's already happened. I believe I heard that the EU
today or yesterday lowered the tariff on their cars to 2.5
percent,
because that's what we charge.
And they lowered it from 10 percent, but it was really much higher than 10 percent. But 10 percent
to 2.5, that's already happened. That's a big win. We've been after that to happen for many years, but it never happened, but nobody did anything about it sitting in this
lovely chair. So there are no tariffs if you manufacture or build your product in the United States. So if you build your product in the United States, There are no tariffs, nothing. You don't have to worry about it. It doesn't exist. A lot of companies will come back to the United States to build their product, make their product in the United States because there will be no tariff, nothing.
For many years, the U.S. Has been treated unfairly by other countries, both friend and foe. This system will immediately bring fairness and prosperity
back
into the previously
complex and unfair system of trade. We had a very unfair system to us.
Everybody took advantage of the United States, and
we paid a big price for it. America has helped many countries throughout the years at great financial cost. It is now time that these countries remember
what we've done for them and treat us fairly.
We want a level playing field for all American
workers. We want a level playing field for the United States of America.
I've instructed my Secretary of State, my Secretary of Commerce,
Secretary of the Treasury, and the United States Trade representative
to do all the necessary work to deliver
reciprocity.
In other words, reciprocal
reciprocity
to our system of trade. So we're going to have a reciprocal tax.
Whatever they charge, We charge. If they don't let us in, we're going to determine a value for that.
But overall, it's going to be a very simple system.
Whatever they charge,
we charge.
So nobody can complain. I don't think anybody can complain. And I'm going to sign this.
And the numbers are going to be
very fair but staggering.
They're going to be large
but very fair.
And this should have been done years ago. And I did it in a different form
with tariffs and taxes
on China. We took in hundreds of billions of dollars. No other president, as you know, ever took in 10 cents. But that was a few countries. That wasn't
what we're doing now. Now we're doing it with every country. So this is every country.
And essentially, when they treat us fairly, we treat them fairly. It's a very fair way of doing it.