02.04.2025 23:41
U.S. President Donald Trump announced new customs tariffs. Reminding of the car taxes he had previously indicated, Trump declared that a 25% customs duty would be applied to cars produced outside the U.S. Additionally, a general customs duty of 10% was imposed on all imported products. Trump stated that a 20% customs duty would be applied to the EU and a 10% customs duty to the UK.
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US President Donald Trump has begun his long-awaited speech. Trump started announcing the new customs tariffs one by one. Announcing that a 25% additional customs tax will be applied to cars produced outside the US, Trump also introduced new additional taxes for the European Union and the UK.
Trump announced that a 19% customs tax has been imposed on all imported products. Additionally, a 20% customs tax will be applied to the EU and a 10% customs tax to the UK.
In the continuation of his statements, Trump said: "We want your support. Everyone is great, thank you very much. Soon we will all be very happy together. Not just car factories; but especially car manufacturers, we will see how happy they are. At the same time, we have very good news for farmers. They have been disturbed by other producers in the world for years. Canada imposes a 300% tax on dairy products. First, they provide carton milk at a low price, then they raised the taxes to 300%. When asked, they say, 'No, look, it's 3%'. What is happening in the chain is definitely not fair. We are always subsidizing a country like Canada. We support Mexico with 200 billion a year. Why are we doing this? What is our benefit? This is why we have so much debt, our budget deficit is increasing.
Due to tax-free and tariff-free policies. They say, 'We will send you our cars, but we will not take anything from you'. We are buying beef from Australia. Last year we bought such a high amount. Because they want to protect their farmers. However, starting from tonight, I will say 'No'. China proposes a 65% tax on rice producers. Japan imposes more than 700% tax.
Egg prices have dropped by 50%, my dear Minister of Agriculture, you did a great job. The price has dropped to 59%. We were applying a 2.8% tax. They were protecting themselves with protective barriers, making us poorer. China is a strong country, but they are not in the first place. America pays a serious price for them. The US was previously the richest country. In the 1880s, there was so much money. Now we will solve this problem soon. We will save money again. They invented income tax in 1913. Thus, in 1929, it led to a serious decline, a crisis with the Great Depression. Thus, they wanted to bring back tariffs to bring our country back, but it was too late. It took years to recover."
Details are coming...
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