U.S. President Donald Trump on the 8th (local time) commented on tariff policy, saying, "Many countries have taken advantage of us tremendously. Now it is our turn to take advantage."
During a dinner event hosted by the National Republican Congressional Committee (NRCC) in Washington, D.C., Trump noted, "We are generating tremendous revenue from tariffs. It’s $2 billion a day, can you believe that?"
He emphasized regarding concerns about the global trade war, saying, "This is not a war. Many countries are coming to us, and they want to negotiate."
Regarding the 104% tariff imposed on China, Trump stated, "Other countries are also paying tariffs. China is currently bearing 104%." He continued, "While 104% may seem ridiculous, China has already imposed tariffs of 100-125% on U.S. products."
He also criticized, "Worse than tariffs are non-tariff barriers," adding, "China announced currency devaluation today. They are manipulating the exchange rate to offset U.S. tariffs." He explained, "This kind of game must end. Therefore, the 104% tariff on Chinese products remains effective until negotiations are concluded."
Trump hinted at the possibility of negotiations, saying, "At some point, China will also want to negotiate."
He also mentioned the U.S. automotive industry, stating, "In 1950, the U.S. accounted for 75% of world auto production, but now it is only 11%." He continued, "For 70 years, the U.S. military has patrolled the world and maintained peace, and America's wealth has enriched the world, but it is hard to find American cars in Seoul, Tokyo, or Shanghai."
He added, "My mission is not to maximize the benefits of foreign corporations. We must now buy American cars. I have to protect the American dream."
Trump also predicted additional measures related to pharmaceuticals, saying, "Because the U.S. is a large market, pharmaceutical factories will return to America. Relevant tariffs will be announced soon."
Regarding the semiconductor industry, he criticized the Biden administration's semiconductor support law, saying, "Even if subsidies are given to foreign companies, they end up taking the money without building factories." He emphasized that he "did not give money. Instead, I only said, 'If you don’t build factories in the U.S., you will face a tariff of 25%, possibly 50%, 75%, or even 100%.'"
In response to criticism of tariff policies, he dismissed the concerns, saying, "Now they complain about tariffs, but they said nothing when they lost 90,000 factories due to joining NAFTA in the past," adding, "Such criticism is the voice of villains or fraudsters."
Trump referred to some Republican lawmakers pushing a bill to strengthen congressional control over tariffs, labeling them as "rebels" and claimed, "If Congress is involved in negotiations, they will sell out America."
He asserted, "We are receiving great assistance because of tariffs. This policy will be recorded as a legendary success, and we will win big in the midterm elections."
On the same day, Trump signed an executive order to further increase reciprocal tariffs on China from the existing 34% to 84%. As a result, starting on the 9th, the total tariff imposed on Chinese products by the U.S. will reach 104%.