The United States President Trump held a press conference on Thursday afternoon (February 14) Eastern Time to announce the implementation of reciprocal tariffs (mutual tariffs). This move signifies a significant escalation in the trade war between the United States and its economic partners. Both Epoch Times and New Tang Dynasty will be conducting live coverage of the event.
The reciprocal tariff policy was proposed by Trump in his first term but faced obstacles that prevented its implementation. In his second term, he aims to achieve this far-reaching proposal through executive orders.
Trump tends to see the reciprocal tariffs plan as a crucial element in driving the overall increase in tariffs for the United States. He stated that the plan would be applied to countries with average tariff rates higher than that of the United States, with the U.S. increasing its tariffs to match accordingly.
During an interview with the media on Sunday, Trump stated, “If they impose tariffs on us, we will impose tariffs on them.”
Market sentiments are now mixed, with investors not only analyzing more profit and inflation data but also closely monitoring further details of President Trump’s tariff plan.
At 1:40 pm, Trump held a press conference where he announced the decision to impose reciprocal tariffs.
He will consider using a value-added tax system to levy tariffs on foreign goods. Additionally, he will establish some non-tariff barrier provisions, such as conducting tests on automobiles. These non-tariff barrier regulations would involve restrictions on trade.
Nominee for Secretary of Commerce, Howard Lutnick, will oversee these restrictions and other specifics of non-tariff barriers.
Trump stated that the practice of rerouting goods through third countries to avoid tariffs would not be accepted.
You can watch the live broadcast on the following platforms:
– Epoch Times: https://www.youtube.com/watch?v=VuebcxRiis4
– New Tang Dynasty: https://www.youtube.com/watch?v=tdogmmqxZ_U
– GJW: https://www.ganjingworld.com/live/1he17f29kqs4OUzx3wegqp9dU1um1c