The Trump administration claims that the nation’s 2024 record $1.2 trillion trade deficit is eroding manufacturing jobs in the U.S. as a slew of customized tariffs are set to hit a host of countries Wednesday.
President Donald Trump announced the wave of tariffs during a ceremony at the White House’s Rose Garden for a Make America Wealthy Again event on April 2, and he said the new duties would prompt an influx of jobs for U.S. workers.
Trump and his administration have blasted other countries’ trade practices and charged them with unfair trade practices against the U.S.; they have also argued that tariffs would help return manufacturing jobs to the U.S. As a result, he and his administration have called for using tariffs to address these trade practices.
HERE’S A CLOSER LOOK AT TRUMP’S TARIFF PLAN: WHAT TO KNOW ABOUT THE NEW DUTIES
“Large and persistent annual U.S. goods trade deficits have led to the hollowing out of our manufacturing base; resulted in a lack of incentive to increase advanced domestic manufacturing capacity; undermined critical supply chains; and rendered our defense-industrial base dependent on foreign adversaries,” the White House said in an April 2 fact sheet.
While U.S. manufacturing output accounted for more than 28% of global output in 2001, that number declined to over 17% in 2023, according to the White House fact sheet. Altogether, the White House said the U.S. has lost a total of 5 million manufacturing jobs between 1997 and 2024.
The Trump administration’s tariff plan establishes a baseline duty of 10% on all imports to the U.S., while customized tariffs will be set for countries that have higher tariffs in place on American goods. The baseline tariffs of 10% took effect Saturday, while the others will take effect Wednesday.
After the announcement of the new tariffs, White House press secretary Karoline Leavitt said nearly 70 countries have reached out to try and broker a trade deal.
“Countries are falling over themselves to reform their unfair trade practices and [open] their markets to our country,” Leavitt told reporters Tuesday. “Why? Because these countries greatly respect President Trump and the sheer power of the American market. These countries realize they’ve gotten filthy rich over the past few decades by imposing substantial tariffs on American-made products and ridiculous non-monetary barriers to block out American industry.”
HOW WE GOT TO LIBERATION DAY: A LOOK AT TRUMP’S PAST COMMENTS ON TARIFFS
“The jig is up,” Leavitt added. “Past American presidents sat by and let this happen. But President Trump stood up for our country. And he is saying no more.”
Trump’s tariff plan has faced scrutiny from both parties in Congress, including from Republican Sens. Ted Cruz of Texas and Rand Paul of Kentucky, who worry consumers will face increased costs.
“Tariffs are a tax on consumers, and I’m not a fan of jacking up taxes on American consumers, so my hope is these tariffs are short-lived and they serve as leverage to lower tariffs across the globe,” Cruz said in an interview Thursday with FOX Business’ Larry Kudlow.
A bipartisan group of senators introduced legislation Friday called the Trade Review Act of 2025 that would require the executive branch to provide Congress a 48-hour notice before imposing tariffs. The measure also would require tariffs to expire after 60 days unless Congress signs off on a joint resolution codifying the duties.
Read the full article here
