Donald Trump warns about possible disturbance post tariffs changes as he addresses Congress

US President Donald Trump defended his economic plans in his joint address to the Congress and acknowledged that Americans could face some issues due to tariffs.

In his speech, the 47th US President said that his plan to remake the US economy by implementing the biggest tariff increases in the century would bring “trillions and trillions” in revenue, Bloomberg reported. Admitting that there might be some “disturbances” ahead, Trump said that he believed these problems could be over soon.

Donald Trump on tariffs

The Republican leader was positive about the impact of US’ tariff measures and said it would balance what he considered to be unfair trade relationships.


“Tariffs are about making America rich again and making America great again. And it’s happening, and it will happen rather quickly,” Trump said.

Talking about the impact of the measures, the US President commented, that “there’ll be a little disturbance" but claimed "we’re OK with that. It won’t be much.”

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Trump’s tariff plan

The 47th US President’s defence of his economic policy comes amid rising food prices in the country and concerns among businesses about how levies could affect them. Tariffs could cause imports of many food items to rise, further pinching pockets.

An NPR/Marist poll released this week shows that 57 percent of American adults believe grocery prices will rise in the next six months, USA Today reported. This could bring a grim shadow over the US economy despite Trump's proclamations.

Trump has levied a 25 percent tariffs on Mexico and Canada as well as 20 percent taxes on Chinese goods. He promised to levy reciprocal tariffs on all nations which had trade barriers on imports from Washington. He claimed that America “had been ripped off for decades” by almost every country on Earth and he would not let that happen any longer.

Trump’s address to Congress:

In his speech, the US President also mentioned the Russia-Ukraine war and said that time had come to end the ”senseless” conflict. Trump struck a more conciliatory tone on the matter compared to his confrontation with Ukrainian President Volodymyr Zelenskyy in the White House last week.

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He also criticised his predecessor Joe Biden’s policies, including the Chips and Science Act, which provides billions in subsidies to increase domestic manufacturing of semiconductors. Trump claimed that he would not give manufacturers any more funds from the law and promised that his measures would create jobs.

FAQs

What did Trump say about tariffs?
He said tariffs could balance unfair trade relationships and help the US earn trillions in revenue.


What are reciprocal tariffs?
These are trade barriers announced in response to tariffs or import restrictions in place for a country’s products.