Mr. Trump determined to protect tariffs, confident that America will reap sweet fruits after 2 years

Mr. Trump remains optimistic about the future of the US economy after tariffs - Photo: REUTERS

On April 2 local time, President Trump shocked the world when he announced a new reciprocal tariff policy, affecting all trading partners and imports into the US.

Despite plunging markets and backlash from Washington's allies, Trump has insisted that tariffs will make America better in the long run, according to ABC News.

With the goal of boosting domestic manufacturing - one of the reasons the Trump administration has imposed a 10% tariff on all trading partners and much higher tariffs on some countries like China - the US leader said it would take about two years to achieve this goal.

“Let’s say it’s going to be a two-year process,” Mr. Trump told reporters when asked how long it would take for the industry to reach his goals.

"You know, they're going to start building plants — and these are going to be big plants. We've given them permits so that in many cases they're going to build the power generation facilities that go with them," Trump said.

"So you have both the power plant and the manufacturing plant. The good news is that they will make a lot of money from it and they can build it quite quickly, but these are still big projects. So I always thought it would take about a year and a half to two years," he continued.

In addition, President Trump also ignored concerns about the short-term negative impact that economists say American consumers will have to bear after the tariffs.

“It’s normal, because this is a very sick patient,” Mr. Trump said, comparing his economic policies to performing surgery. “This country is going to boom, really boom.”

However, according to ABC News, not everyone shares Mr. Trump's optimism about the new US tax policy.

Jay Timmons, executive director of the National Association of Manufacturers, the largest manufacturing trade association in Washington, criticized the announced policies.

“Needless to say, the tariff announcement is complicated. Manufacturers are racing to figure out how this will specifically impact their business,” said Timmons.

According to Mr. Timmons, the US government should exempt tariffs on inputs that manufacturers need in the domestic production process, and negotiate to reach "zero tax" agreements for goods produced in the US when exported abroad.

“Manufacturing is at enormous risk,” he said. “Many U.S. manufacturers are already operating on razor-thin margins. New tariffs will drive up costs, threaten investment, jobs, supply chains and, more broadly, America’s global competitiveness, and its position as the world’s leading manufacturing power.”

On April 3, Mr. Trump signaled that he was willing to negotiate to reduce taxes, although White House officials throughout the day denied the possibility of negotiating on this tax policy.

But on the morning of April 4 (local time), the president made a strong statement about his stance on social media: "My policy will never change."

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Source: https://tuoitre.vn/ong-trump-quyet-bao-ve-thue-quan-tu-tin-my-gat-hai-trai-ngot-sau-2-nam-20250405111243588.htm