President Donald Trump said that voters should have expected him to impose a mutual tariff for the world when they chose his support in the presidential elections last year.
“Well, they participated in that, in fact. This is what I carried,” Trump said about the definitions during an interview with ABC News that was broadcast on Tuesday.
“We have been abused by other countries at unprecedented levels,” Trump said.
On April 2, Trump announced the full definitions of more than 180 countries. The foundation line rate entered 10 % on April 5. A higher group of definitions that varied, according to the country, entered into force on April 9, before Trump announced a 90 -day stopping on the same day.
Trump’s ads, respectively, again sparked a huge sale in the market, and economists and business leaders have criticized.
However, Trump said that his definitions on trade partners in America are a necessary procedure.
“I could have left it in this way, and at some point there was a collapse like no one likened to.” But I said, “No, we have to reform it.” I wanted to do this for many years. “
Trump defended the policy of customs tariffs on multiple occasions. On April 20, Trump wrote in a social publication in fact that business leaders who oppose his definitions do not appreciate what he does for them.
“Businessmen who criticize the definitions are bad at work, but they are really bad in politics,” Trump wrote on the social truth on Easter on Sunday.
“They do not understand or realize that I am the greatest friend of American capitalism ever!” Trump continued.
Christopher Tsai, the president and chief investment official at the Investment Management Company Tsai Capital, told Business Insider that companies will not have enough time to adapt to the Trump tariff, even with stopping to stop for 90 days.
Tsai said that the customs tariff can harm small and medium -sized companies in America, and expel the country to recession. Small and medium -sized companies make up about 44 % of the United States GDP, for each American commercial room.
“This is much more than numbers. People’s functions are at risk and companies that thrive and contribute to the economy for all years suddenly in a very different situation. This is worrying for me,” Tsai said.
The White House did not respond to a request for suspension from BI.
