Trump "There will be confusion, but I won't back down"...reconfirms 'April 2 reciprocal tariffs'

Source
Korea Economic Daily

Summary

  • President Trump reaffirmed his determination to proceed with the announcement of reciprocal tariffs next month.
  • He explained that tariff policies are one of the factors promoting investment in the United States, emphasizing that he has no intention to change his stance on aluminum, steel, and automobiles.
  • He mentioned large-scale investment plans by American companies, stating that tariffs are a factor driving these investments.

U.S. President Donald Trump has reaffirmed his determination to proceed with the announcement of 'reciprocal tariffs' against the entire world on the 2nd of next month.

When asked by reporters during a meeting with NATO Secretary General Mark Rutte at the White House Oval Office on the 13th (local time) if there was a possibility of change regarding "the tariffs on aluminum (currently imposed at 25% since the 12th) and the tariffs planned for April 2nd (reciprocal tariffs)," President Trump drew the line by saying "No."

President Trump stated, "We've been ripped off for years, and we won't take it anymore," adding, "Whether it's aluminum, steel, or automobiles, I won't back down."

In particular, regarding Canada, with whom the 'tariff battle' is most intensely unfolding, he said, "We don't need anything that Canada has," and elaborated on his plan to make Canada the 51st state of the United States.

He added that regarding tariffs, "There will be some confusion, but it won't last long."

President Trump mentioned investment plans of American companies in the United States, such as Apple's $500 billion investment plan, explaining that tariffs are one of the factors drawing investments into the United States.

Regarding the visit of Middle East Special Envoy Steven Wittkopf to Russia to discuss the '30-day ceasefire' proposal for the Ukraine war, which was proposed by the United States and agreed to by Ukraine, he said, "Ukraine has agreed to a complete ceasefire, and we hope Russia will do the same."

Regarding Russian President Vladimir Putin's statement that he agrees in principle with the '30-day ceasefire' plan but needs further discussion, Trump called it "promising" but "not complete."

President Trump revealed his plan to annex Greenland, which is included in NATO's collective defense, in front of the NATO chief.

Secretary General Rutte avoided a direct answer, saying he would not engage with any questions related to this and that he "doesn't want to drag NATO into it."

President Trump also emphasized that the NATO member countries' guideline of spending 2% of GDP on defense is "too low" and "should be higher."

Regarding the uncertain situation of budget processing in the U.S. Congress ahead of the deadline (14th) due to opposition from Senate Democratic senators, he sharply criticized that if a temporary government shutdown occurs due to failure to process the budget, it would be the Democrats' responsibility.

In addition, he introduced that Facebook has also announced plans to invest a total of $60 billion by the end of the year.

Shin Hyun-bo, Hankyung.com reporter greaterfool@hankyung.com

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Korea Economic Daily

hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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