President Trump mentioned Monday that he’s going to propose a “reciprocal” tax on imports this week, reviving an concept he raised previous to battle U.S. buying and selling companions enticing in unfair trade practices.
“We cannot continue to be taken advantage of by other countries,” Mr. Trump mentioned all the way through a gathering within the Oval Office. “We cannot continue to let people come into our country and rob us blind and charge us tremendous tariffs and taxes and we charge them nothing. We cannot allow that to happen.”
Commerce Secretary Wilbur Ross praised the proposal, pronouncing the rustic wishes a reciprocal tax as a result of “we really have to claw it back” from buying and selling companions.
The U.S. is renegotiating the North American Free Trade Agreement with Canada and Mexico, and the president’s feedback seemed to be aimed toward the ones talks.
“We are going to charge countries outside of our country – countries that take advantage of the United States. Some of them are so-called allies but they are not allies on trade,” Mr. Trump mentioned. “So we’re going to be doing very much a reciprocal tax and you’ll be hearing about that during the week and the coming months.”
He mentioned the U.S. has misplaced a “tremendous amount of money” as a result of NAFTA.
“Canada does not treat us right in terms of the farming and the crossing the borders,” Mr. Trump mentioned. “We cannot continue to be taken advantage of by other countries.”