UPDATED: Trump declares ‘T-Day’ and storms the beaches with sweeping tariffs on White House lawn, Canada exempt
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Shaun Polczer
Published on:
02 Apr 2025, 2:26 pm
Pronouncing what he called America’s new ‘Declaration of Independence’, US president Donald Trump on Wednesday unveiled sweeping tariffs on the world’s economies, excluding USMCA trading partners Canada and Mexico.
Speaking to a packed crowd in the Rose Garden of the White House, Trump ran the proceedings like a Bar Mitzvah host while a Marine Band played music.
In doing so, he vowed to ”Make America Wealthy Again” (MAWA) and deliver his long-awaited wrath on various enemies and foreign governments — including, but not restricted to his Two Amigos Canada and Mexico — although both trading partners were singled out for special derision.
“For decades our country has been looted, pillaged, raped and plundered by nations near and far,” by both allies and enemies, he added. “April 2, 2025 will forever be remembered as the day American industry was reborn.”
Trump signed an executive order after the ceremony. But brandishing a wooden plaque, Trump rattled off a preliminary list of “cheaters,” China 67%; EU 34%; Vietnam 90%; India 52%. The UK got off easy with 10%.
Trump said those “common sense” tariffs were ‘reciprocal’ and included value-added taxes and what he termed ‘currency manipulation’ in those calculations. Then said he was being “kind” by cutting that rate in half.
“For Canada and Mexico, the existing fentanyl/migration IEEPA orders remain in effect, and are unaffected by this order. This means USMCA compliant goods will continue to see a 0% tariff, non-USMCA compliant goods will see a 25% tariff, and non-USMCA compliant energy and potash will see a 10% tariff. In the event the existing fentanyl/migration IEEPA orders are terminated, USMCA compliant goods would continue to receive preferential treatment, while non-USMCA compliant goods would be subject to a 12% reciprocal tariff,” said the White House Tariffs Fact Sheet.
Despite trashing both Canada and Mexico, neither were included on the list. But the ‘reciprocal’ tariffs don’t include the ‘fentanyl’ tariffs — which are the subject of a US state of emergency that needs to be extended by Congress, or the 25% tariffs placed on automobile manufacturing.
In all, Trump said his tariff assault would raise USD$6 trillion for US government coffers.