'America first': Trump vows tariffs on China, India, Brazil and other nations that 'harm' US
World | Business & Economy: Trump said it is time that America returns back to the system that made it “richer and more powerful than ever before.”
US President Donald Trump said on Monday (Jan 27) that India, China, and Brazil, the high-tariff countries, are harmful to America, adding that Washington would impose further taxes on other countries too to bring money to the US.
“We’re going to put tariffs on outside countries and outside people that really mean harm to us. Well, they mean us harm, but they basically want to make their country good,” Trump told House Republicans at a Florida retreat on Monday, PTI reported.
Also read: 'Time to return to system that made us richer,' Trump hints at removing income tax for US citizens
He further added that China is a "tremendous tariff maker" and so is India, Brazil, and other countries. “Look at what others do," he said, adding his administration is not going to let that happen. "Because we’re going to put America first,” he quipped.
Trump was further reported as saying that the US will establish a “very fair system where money is going to come into our coffers, and America is going to be very rich again."
He said it will happen "very quickly".
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Trump said it is time that America returns back to the system that made it “richer and more powerful than ever before.”
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“If you want to stop paying the taxes or the tariffs, you have to build your plant right here in America. That’s what’s going to happen at record levels. We’re going to have more plants built in the next short period of time than anybody ever envisioned before because the incentive is going to be there, as they will have no tariffs whatsoever,” the Republican reported as saying.
This came a day after Trump announced a new ‘External Revenue Service (ERS)' to collect tariffs from other countries. He also commanded the commerce and treasury departments to probe the cause behind the "large and persistent" annual trade deficit of America.
Also read: Trump signs order banning transgender people from US military. What are the new guidelines?
(With inputs from agencies)
