President @realDonaldTrump talks about how his Administration is going to protect America's trade interests through the Trump Reciprocal Trade Act.
Video transcript
>> To protect American workers and families, I will impose it across the board tariff on foreign made goods that come into our country. If they're gonna come into our country, and if they're going to pillage, in many ways, our country, or do a good job, they have to pay for the right to come into our country. Because right now they're destroying our country on trade. We have trade imbalances at levels that nobody's ever seen. And I was all set to do it, and then we had the COVID situation. And we had other problems, but we're gonna do it, and we were doing it, and we made incredible trade deals. We did so much. I will pass what's called the Trump Reciprocal Trade Act. That means that if China or any other country makes us pay a 100 or 200% tariff, which in many cases they do, we will make them pay a reciprocal tariff of 100 or 200%. We don't do that. We've done it on individual cases where I was able to get it done, but we're gonna do it for everybody. When they charge us, a lot of countries, not only China, but you have a lot of countries, they'll sell a motorbike, they'll put a tariff on Harley Davidson's going into India of 150%. And they sell Indian, what's called Indian motorbikes, lesser level. And we put a tariff on them of nothing. But we did a big thing in my administration, and you know what they want. They want Harley Davidson or whoever to go to India and build a plant. That way they say, you have no tariffs, well, we lose all those jobs. So we're gonna hit them very hard, everybody, we're gonna hit them very hard. Reciprocal trade, they put it on us, we put it on them. One of two things is gonna happen. We'll collect a lot of money and that's fine, and so will they. Or they'll drop the tax, and we'll drop the tax, and it's simply, you don't have an accounting problem. And as tariffs go on, foreign countries, they go up, taxes go on, American workers and small businesses and middle class families will come way down as we do this, because all of this money that will be taken in, all of these jobs that will be taken in, you know, when you do that, you're gonna be opening up plants here and all over the United States.
Transcribed automatically. Expect errors in names and numbers.