Trump Says New Tariff Rates Will Be 'Lower' Than Other Countries' Rates On The US

During a cabinet meeting Tuesday, President Trump spoke about tariffs.

Transcript

00:00With the flurry of deals, will we hear in the next 24 hours, will we hear a flurry of deals?

00:05Yeah, we have a lot of them going out. But the deals are mostly my deal to them.

00:09We're picking a number that's low. We don't want to hurt that. And fair.

00:16We're picking a number that's lower than, in most cases, lower than what they charged us.

00:22But it's amazing when you've paid all this money for years and they get one president

00:28that's a little bit different and a little tougher on this subject.

00:32And they're willing to drop everything they've been charging us for years and years.

00:36I mean, we have countries called, we will have no, you don't have to pay any tariff to come in and do business.

00:43They're giving us total access to their countries. They gave us no access to the country.

00:48They say, you cannot go into our country. Okay, good.

00:51Now it's, we will give you total access and you don't have to pay any tariffs.

00:55But please don't charge us tariffs.

00:58And we don't like that deal.

00:59So the letters I send out are, we have made some deals.

01:02We can make a lot more deals. It's just too time-consuming.

01:07It just makes it more complicated.

01:10And we can do things over the years, too.

01:12You know, we're going to, we're not going to, we're not hardline.

01:15But it's about time the United States of America started collecting money

01:19from countries that were ripping us off, ripping us off,

01:23and laughing behind our back at how stupid we were.

01:28Okay? Thank you.