Quotes
Long-term it’s going to make our country a fortune,
he added
The fact is, you don’t have free trade. We think of it as free trade, but you right now don’t have free trade,
he said, adding laterI’ve decided for purposes of fairness that I will charge a reciprocal tariff ... it’s fair to all. No other country can complain,
he saidWe’re going to make America rich again.”
He addedI have decided for purposes of fairness, that I will charge a reciprocal tariff — meaning whatever countries charge the United States of America, we will charge them no more, no less. In other words, they charge us a tax or tariff and we charge them the exact same tax or tariff,
Trump said at the White House
With reciprocity, as defined by Trump, U.S. tariffs would be probably on average 10 to 15 percentage points higher. In my opinion, tariffs actually hurt the U.S. economy, so while they would raise revenue ... they would reduce GDP growth,
Hufbauer told Xinhua
It's a relief that the administration isn't rushing to impose new tariffs, and we welcome the president taking a more nuanced, interagency approach,
said Tiffany Smith, vice president for global trade at the National Foreign Trade Council
They effectively don't let us do business. So we're going to put a number on that that is a fair number. We're able to accurately determine the cost of these non-monetary trade barriers,
Trump saidI do think every country has been put on notice. And if you were going to implement reciprocal tariffs on the scale he's talking about, this is actually how you would go about it,
he saidObviously, it disrupts the way that things have been done for a very long time,
said Richard Mojica, a trade attorney at Miller & Chevalier, in the AP reportThis is beyond negotiation. It's to be taken very seriously,
said Josh Lipsky, director of the Atlantic Council's GeoEconomics Center and a former adviser to the International Monetary Fund who also served in the Obama White HouseIt's hard to plan in any sort of long-term, sustainable way,
he said, quoted by APThe trade deficit is really a macroeconomic imbalance,
said Kimberly Clausing, a UCLA economist and former Treasury officialWe encourage the president to seek coordination and collaboration with our trading partners and bring stability to our supply chains and family budgets,
he added.jpg)
Our analyses suggest that the main impact will be on growth,
said European Central Bank Vice-President Luis de GuindosIt's just a very, very chaotic environment,
said Stephen Lamar, president and CEO of the American Apparel & Footwear Association
It will likely result in higher prices for hardworking American families and will erode household spending power,
David French, NRF executive vice president of government relations, said in a press release published ThursdayIt could be win-win,
said Christine McDaniel, a former U.S. trade official now at George Mason University's Mercatus CenterTrump is throwing that out the window ... Clearly this is ripping up trade. There are going to have to be adjustments all over the place,
he saidIncreases in tariffs and quotas are a negative supply shock, especially if accompanied by retaliation. This vicious circle should be avoided,
he said