KEBBI GOVT DONATES 10 HILUX VEHICLES TO BOOST SECURITY ON SOKOTO–BADAGRY SUPER HIGHWAY. (PHOTOS).
“Other countries have used tariffs against us for decades, and now it’s our turn,” Trump said in what was his first address to U.S. lawmakers of his second term.
The remarks came after the United States imposed 25% tariffs earlier Tuesday on exports from its two biggest trading partners, Canada and Mexico, and doubled an earlier 10% tariff on Chinese imports to 20%. China is the No. 3 U.S. trading partner.
U.S. stock markets have taken a significant tumble, and the three countries have threatened retaliation, prompting concerns of a broader trade war.
Trump also said the United States will begin imposing “reciprocal tariffs” on all U.S. trading partners on April 2.
“Whatever they tariff us, we will tariff them,” he said. “Whatever they tax us, we will tax them.”
“I wanted to make it April 1, but I didn’t want to be accused of April Fool’s Day,” Trump added.
Trump also said he will impose a 25% tariff on imports of foreign aluminum, copper, lumber and steel.
Trump’s address comes six weeks into his second term, which has been marked by tensions with U.S. allies, shifts in foreign policy and an overhaul of the federal government. The White House on Monday said the theme of the address was the “renewal of the American dream.
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