Trump announces ‘Trump Reciprocal Trade Act’ to reduce deficits
WEST PALM BEACH, Fla. (FLV) – Former President Donald Trump released a video on Wednesday in which he promised to enact new trade legislation aimed at reducing America’s trade deficit.
Trump called the hypothetical legislation the “Trump Reciprocal Trade Act” and stated that it would allow the United States to match tariffs imposed by other countries in a reciprocal manner.
“If India, China or any other country hits us with a 100, or 200% tariff on American made goods, we will hit them with the same exact tariff, in other words, 100% is 100%,” Trump said in the Agenda 47 video. “If they charge us we charge them an eye for an eye a tariff or a tariff, same exact amount.”
The former president said that countries would probably drop their tariffs to avoid being retaliated against by Trump’s proposed policy but if they refused, “that’s okay, we’ll take in plenty of money.”
“Other countries will have two choices, they will get rid of their tariffs on us, or they will pay us hundreds of billions of dollars,” Trump said. “And the United States will make an absolute fortune.”
Trump also pledged that “there will be no more unilateral economic surrender” and that his proposed trade policy would benefit farmers and manufacturers across the country.
“This will especially help our great farmers in Iowa, and other agricultural states. And it will help our manufacturers all across the nation,” Trump said. “We will be knocking down barriers to American farm products, American dairy products, steel, just about everything you can think of from all around the world, they take advantage of us but no more.”
Trump also recently announced his plan to curb excessive U.S. federal spending in an Agenda 47 video.
In the video, the former President pledged to use “impoundment” – the practice of not spending some allocated funding from Congress for particular programs or agencies – to decrease spending without Congress’ help.
Trump is set to visit South Carolina on July 1st for an Independence Day celebration according to his campaign website.
