Update on Tariffs

Christopher Lambert

Staff Writer

In President Trump’s campaign, he hammered home that other countries were not paying their fair share, even though the U.S. has provided for other countries. What Trump means is that when the U.S. gives aid or resources to other countries, he feels that the US is left high and dry. Trump believes that America deserves compensation for all of the help they have provided, specifically over the last 20 years.

On Wednesday, April 2,  or as Trump referred to it as, “Liberation Day,” the President enacted many tariffs on various countries. The goal behind these new tariffs is to bring jobs back to America.

The Trump administration put a 10% tariff on all goods being imported to the U.S. For countries with tariffs against the U.S. higher than 10%, he doubled their tariff rate. For example, Secretary of Commerce Howard Lutnick stated that China puts a 67% tariff on the U.S. He stated that in turn, the Trump administration will charge China a 34% tariff, according to Fox News.

Tariffs function as a tax that the government collects on certain foreign goods  imported from other countries. Trump’s new tariffs are estimated to affect technologies made in China all the way to wine and alcohol made in Italy.

Another item that is planned to be heavily tariffed are automobiles, which will be tariffed up to 25%. This comes at a time when the U.S. is in need of more money to clear their national debt. The Trump administration feels as if they have been wronged by other countries’ trading actions. According to the BBC, President Trump said, “For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike.”

The Trump administration wants to bring wealth back to America and clear the national trading deficit of $1.2 trillion. The plan of attack is tariffs and negotiating other trade agreements that the U.S. deems as fair and equitable for the country.