US President Donald Trump on Wednesday slammed Canada and China over tariff on dairy and agricultural products before announcing 'discounted' reciprocal tariffs.
"We're also standing up for our great farmers and ranchers who are brutalized by nations all over the world. Canada by the way imposes a 250 to 300% tariff on many of our dairy product. They do the first little carton of milk at a very low price but after that it gets bad and then it gets up to 275 300%," he said.
"So when they're figuring what's Canada charging they say "Oh about 2% 3%." But take a look at what happens down the road when you look a little bit it's not a pretty picture and we don't like it and it's not fair it's not fair to our farmers it's not fair to our country, he added.
Trump then said that China impose a tariff rate of 65% on American rice farmers while South Korea charges anywhere between 50% to 513%.
"China charges American rice farmers an over quotota it's called tariff rate of 65% South Korea charges 50 actually they charge different from 50% to 513% and Japan our friend charges a 700% but that's because they don't want to selling rice and other thing who can blame them," he said.
He also announced a 25% tariff on all foreign-made automobiles.
“Let me offer just a few examples of the vicious attacks our workers have faced for so many years. The United States charges other countries only a 2.4 per cent tariff on motorcycles. Meanwhile, Thailand and others charge much higher rates, like 60 per cent. India charges 70 per cent, Vietnam charges 75 per cent, and others are even higher than that," he said
“Likewise, until today, the United States has for decades charged a 2.5 per cent tariff. Think of that – 2.5 per cent on foreign-made automobiles. The European Union charges us more than 10 per cent tariffs…. India charges 70 per cent and perhaps worst of all are the non-monetary restrictions imposed by South Korea, Japan, and very many other nations. That's why, effective at midnight, we will impose a 25% tariff on all foreign- made automobiles," he added.
Meanwhile, Trump also imposed 26% reciprocal tariff on India. “India, very, very tough. Very, very tough. The Prime Minister just left. He's a great friend of mine, but I said, ‘You're a friend of mine, but you’re not treating us right.’ They charge us 52 per cent. You have to understand, we charge them almost nothing, for years and years and decades, and it was only seven years ago, when I came in, we started with China and we took in hundreds of billions of dollars from China in tariffs,” Trump said.
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