Claiming that others had “ripped off” the U.S. for years, Trump declared that the U.S. would tax nearly all of America's trading partners at a minimum of 10% and impose individualized, steeper rates for dozens of countries that he said run trade surpluses with the U.S. “If the U.S. insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end,” the Ministry of Commerce wrote in a statement introducing its white paper on trade with the U.S. During a speech Tuesday night, Trump boasted he was offering “breaking news” before vowing, "We’re going to be announcing, very shortly, a major tariff on pharmaceuticals.” In the same remarks, the president lamented that the U.S. no longer produces many of the pharmaceuticals its citizens take, and said new tariffs would change that — bringing production of medication back to the U.S.
Author: Wyatte Grantham-philips
Published at: 2025-04-08 21:50:14
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