Trump announces sweeping reciprocal tariffs against "friend and foe" with a 10% minimum

Fortune

President Trump on Wednesday announced sweeping reciprocal tariffs with the U.S.’s trading partners, to be set at about half of what other countries are charging America. The U.S. will impose a 10% minimum tariff, too.

Transcript

00:00In a few moments, I will sign a historic executive order

00:04instituting reciprocal tariffs on countries

00:07throughout the world.

00:08Reciprocal.

00:09That means they do it to us and we do it to them.

00:13Very simple.

00:14Can't get any simpler than that.

00:16This is one of the most important days, in my

00:22opinion, in American history.

00:25It's our declaration of economic independence for

00:29years.

00:30Hardworking American citizens were forced to

00:32sit on the sidelines as other nations got rich and

00:35powerful, much of it at our expense.

00:39But now it's our turn to prosper, and in so doing,

00:43use trillions and trillions of dollars to

00:45reduce our taxes and pay down our national debt,

00:48and it'll all happen very quickly.

00:51With today's action, we are finally going to be

00:54able to make America great again, greater than ever

00:57before.

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