Trump imposes a 32% tax on Taiwan! The U.S. reciprocal tariffs are officially in effect: the entry fee is set at a minimum of 10%, revitalizing the U.S. economy.

On April 2, U.S. President Donald Trump delivered a speech at the White House, stating that this day marks America’s Economic Independence Day, also known as Liberation Day. He signed an executive order on reciprocal tariffs, imposing a series of punitive tariffs on countries worldwide. Among them, the tax on Taiwan reaches as high as 32%, foreign cars are uniformly taxed at 25%, and the minimum tax on all imported products is set at 10%. Trump stated that this policy aims to restore America's economic dominance, increase job opportunities, and attract overseas businesses back, while also forecasting that the coming years will be America’s "Golden Age."

4/2 America Economic Independence Day officially debuts

Trump opened by stating: "Our country has been plundered by foreign nations for decades, workers have suffered, and dreams have been shattered. Now it's time for us to retaliate!" He defined April 2nd as the "American Industrial Resurrection Day," saying it marks the beginning of making America prosperous again.

He emphasized that this time it's for real, aiming for a complete return of the manufacturing industry, a surge in exports, and consumers enjoying low prices.

Global Reciprocal Tariffs Implemented

Trump also signed an executive order during his speech, which is the reciprocal tariffs that everyone is concerned about (Reciprocal Tariffs).

He stated, "Whatever tariffs others impose on us, we will reciprocate with half, which is already quite polite." He gave an example:

China imposes an overall tax of about 67% on American products, while the United States will impose a 34% tax in return.

The EU originally imposed a 39% tariff, and the US retaliated with a 20% tariff.

Taiwan 64%, the United States 32%

Japan originally had a tax rate of 46%, while the United States will impose a tax rate of 24%.

South Korea up to 60%, the United States responds with 30%

Car tariffs are imposed, with a unified tax of 25% on imported vehicles.

He bluntly pointed out that the United States has been at a disadvantage for many years in the automotive industry:

The United States only imposes a 2.5% tax on foreign cars, while the EU imposes over 10% plus a 20% value-added tax (VAT).

India 70%, Vietnam 75%, and non-tariff restrictions in Korea and Japan are even more severe.

Trump announced: "Starting midnight tonight, a uniform 25% tariff will be imposed on all imported cars." In response, the United Auto Workers ( UAW ) representative also took the stage to support: "Trump is the first president to truly speak up for auto workers."

Agricultural products have also become a topic of debate, calling for an eye for an eye.

Trump is not only targeting cars but also bringing agricultural products into the battle. He specifically named Canada, the European Union, Australia, and Asia:

Canada imposes a 300% tariff on American milk.

The EU does not import American chicken.

Australia bans the import of American beef.

Japan imposes a 700% tariff on American rice.

Trump shouted: "If you don't let me import, I won't let you come either!" and emphasized that this is not retaliation, but protecting oneself.

The trend of industrial reshoring has begun, with Apple, NVIDIA, and TSMC all investing billions of dollars.

Trump claims that many large enterprises have already expressed their support for this wave of policies, listing a series of names:

Apple: Invests $500 billion in factory construction.

Nvidia: Invest hundreds of billions

TSMC: Moving in 200 billion investment to build a factory in Taiwan

Meta, Eli Lilly, Johnson & Johnson, GM, Stellantis and others have announced investments.

Trump revealed: "Currently, there are investment commitments totaling up to 6 trillion dollars, and there will be more to come."

The minimum tariff is 10%, and paying a small entry fee is necessary.

In addition to tariffs targeting unfair countries, Trump also announced that even countries without special issues must pay an entrance fee: "All imported goods will be subject to a minimum of 10%, otherwise how can we rebuild?"

In addition, he also warned that customs inspections will become extremely strict, and cheaters could face up to 10 years in prison.

A large package of US legislation is ready to go.

Trump proposed a forthcoming "One Big Beautiful Bill," which includes the following provisions:

The largest tax cut in history

Car loans for vehicles made in the USA may enjoy interest tax deductions.

Prohibit cuts to social welfare budget

Increase military, border, and defense budget

Control national debt and carry out major fiscal restructuring.

Trump calls on Congress: "This big package of legislation will put America on the right path for decades to come."

This is the beginning of a new America, and also the "real era of reconstruction."

Finally, Trump mentioned that everything from the economy, employment, energy to price control will return to the right track, and he will also end the Ukraine-Russia war and stabilize the situation in the Middle East. Before the end of the speech, he cheered: "What you see today is the first day of us turning the fate of the country around!"

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