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President Donald Trump has reaffirmed that no country, especially China, will be exempt from his sweeping tariffs on foreign goods, underscoring his stance that “nobody is getting off the hook” for unfair trade practices. In a statement posted on Truth Social, Trump doubled down on his tough stance against China and other nations, emphasizing that there were no tariff exceptions granted as part of the recent tariff adjustments. His remarks have sparked further debate on the future of U.S. trade policies, particularly concerning China.
“No Tariff Exception for China,” Trump
Trump criticized China’s trade practices, stating, “NOBODY is getting off the hook for the unfair Trade Balances, and Non Monetary Tariff Barriers, that other Countries have used against us, especially not China which, by far, treats us the worst!” He further clarified that the recently announced tariff policy had not created any exceptions. These products, he stated, would now fall under the existing 20% Fentanyl Tariffs and be reclassified under a different tariff category.
The president accused the media of distorting the facts, claiming that “The Fake News knows this, but refuses to report it.” He also reaffirmed his administration’s position on tariffs, asserting that the U.S. was conducting a review of key sectors, including semiconductors and the broader electronics supply chain, as part of the ongoing National Security Tariff Investigations.
Trump Focusing on U.S. Manufacturing and National Security
Highlighting the importance of domestic production, Trump stressed that “we need to make products in the United States” and that the country would no longer be dependent on foreign nations, particularly those with adversarial trade relations. His rhetoric pointed to China as a key player that “will do everything within its power to disrespect the American People.”
This commentary came after Trump teased a potential shift in his tariff approach earlier in the week. On Friday, during a flight to Mar-a-Lago, Trump had told reporters that his baseline tariff rate of 10% could have a few “exceptions” under certain circumstances, but insisted that “10% is a floor.” While not offering specifics, he hinted at possible adjustments for “obvious reasons.”
New Tariffs and Market Reactions
The 10% baseline tariff, announced as part of Trump’s “Liberation Day” tariffs, came into effect on April 5. This marked a significant development in the administration’s aggressive trade strategy. Further hikes in duties were implemented on April 9, targeting specific countries, though Trump soon called for a 90-day pause in the implementation of additional tariff increases. This decision triggered significant market reactions, causing volatility in stock and bond markets throughout the week. Economists and key figures on Wall Street have expressed concern over the long-term implications of such sweeping tariff actions, with some questioning the broader economic impact.
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