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Trump says ‘nicer,’ ‘kinder’ tariffs will generate federal revenue

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President Donald Trump says the slate of tariffs he plans to announce Wednesday will be “nicer,” “kinder” and “more generous” than other countries have treated the U.S.

Trump plans to unveil reciprocal tariffs on all nations that put duties on U.S. imports Wednesday, which the president has been calling “Liberation Day” for American trade.

Trump’s latest comments on tariffs come as he aims to reshape the global economy to reduce U.S. trade deficits and generate billions in federal revenue through higher taxes on imported products.

Trump’s trade policies have upended U.S. and global markets, but the president has yet to get into specifics ahead of Wednesday’s planned announcement.

At the start of March, Trump told a joint session of Congress that he planned to put reciprocal tariffs in place starting April 2.

“Whatever they tariff us, we tariff them. Whatever they tax us, we tax them,” Trump said. “If they do non-monetary tariffs to keep us out of their market, then we do non-monetary barriers to keep them out of our market. We will take in trillions of dollars and create jobs like we have never seen before.”

On Sunday night, Trump said on Air Force One that U.S. tariffs would be “nicer,” “kinder” and “more generous” than how other countries have treated the U.S.

Last week, Trump announced a 25% tariff on imported automobiles, duties that he said would be “permanent.” The White House said it expects the auto tariffs on cars and light-duty trucks will generate up to $100 billion in federal revenue. Trump said eventually he hopes to bring in $600 billion to $1 trillion in tariff revenue in the next year or two. Trump also said the tariffs would lead to a manufacturing boom in the U.S., with auto companies building new plants, expanding existing plants and adding jobs.

Trump predicts his protectionist trade policies will create jobs, make the nation rich and help reduce both trade deficits and the federal government’s persistent deficits.

The “Liberation Day” tariffs come after months of talk since Trump took office in January. On the campaign trail, Trump frequently called “tariff” the most beautiful word in the English language.

James Dorn, senior fellow emeritus at the Cato Institute, said Trump’s rhetoric on tariffs doesn’t match the economic reality of Americans.

“Tariffs expand the scope of government, politicize economic life, increase uncertainty, and reduce individual freedom,” he wrote. “Government officials gain arbitrary power while market participants face fewer opportunities for mutually beneficial exchanges and greater uncertainty as the rules of the game change.”

Dorn said consumers would pay the price.

“Tariffs are levied on U.S. importers as goods – both final and intermediate –subject to the tariff enter the country,” he wrote. “Importers and consumers typically end up paying the tariffs, as they cut into profit margins and drive consumer prices up.”

Business groups, including the U.S. Chamber of Commerce and American Farm Bureau Federation, have urged Trump to back off tariff threats.

Trump has promised that his tariffs would shift the tax burden away from Americans and onto foreign countries, but tariffs are generally paid by the people who import the foreign products. Those importers then have a choice: absorb the loss or pass it on to consumers through higher prices. The president also promised tariffs would make America “rich as hell.”

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Trump considers $5K bonus for moms to increase birthrate

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President Trump voiced support Tuesday for a $5,000 cash bonus for new mothers, as his administration weighs policies to counter the country’s declining birthrate. The idea is part of a broader push to promote family growth and revive the American family structure.

Key Details:

  • Trump said a reported “baby bonus” plan “sounds like a good idea to me” during an Oval Office interview.
  • Proposals under consideration include a $5,000 birth bonus, prioritizing Fulbright scholarships for parents, and fertility education programs.
  • U.S. birthrates hit a 44-year low in 2023, with fewer than 3.6 million babies born.

Diving Deeper:

President Donald Trump signaled his support Tuesday for offering financial incentives to new mothers, including a potential $5,000 cash bonus for each child born, as part of an effort to reverse America’s falling birthrate. “Sounds like a good idea to me,” Trump told The New York Post in response to reports his administration is exploring such measures.

The discussions highlight growing concern among Trump administration officials and allies about the long-term implications of declining fertility and family formation in the United States. According to the report, administration aides have been consulting with pro-family advocates and policy experts to brainstorm solutions aimed at encouraging larger families.

Among the proposals: a $5,000 direct payment to new mothers, allocating 30% of all Fulbright scholarships to married applicants or those with children, and launching federally supported fertility education programs for women. One such program would educate women on their ovulation cycles to help them better understand their reproductive health and increase their chances of conceiving.

The concern stems from sharp demographic shifts. The number of babies born in the U.S. fell to just under 3.6 million in 2023—down 76,000 from 2022 and the lowest figure since 1979. The average American family now has fewer than two children, a dramatic drop from the once-common “2.5 children” norm.

Though the birthrate briefly rose from 2021 to 2022, that bump appears to have been temporary. Additionally, the age of motherhood is trending older, with fewer teens and young women having children, while more women in their 30s and 40s are giving birth.

White House Press Secretary Karoline Leavitt underscored the administration’s commitment to families, saying, “The President wants America to be a country where all children can safely grow up and achieve the American dream.” Leavitt, herself a mother, added, “I am proud to work for a president who is taking significant action to leave a better country for the next generation.”

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Trump: China’s tariffs to “come down substantially” after negotiations with Xi

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President Trump said the 145% tariff rate on Chinese imports will drop significantly once a deal is struck with Chinese President Xi Jinping, expressing confidence that a new agreement is on the horizon.

Key Details:

  • Trump said the current 145% tariff rate on China “won’t be anywhere near that high” after negotiations.
  • He pointed to his relationship with Xi Jinping as a reason for optimism.
  • The White House said it is preparing the groundwork for a deal, and Treasury officials expect a “de-escalation” of the trade war.

Diving Deeper:

President Donald Trump on Tuesday told reporters that the steep tariff rate currently imposed on Chinese imports will come down substantially after his administration finalizes a new trade deal with Chinese President Xi Jinping. While the current level stands at 145%, Trump made clear that number was temporary and would be adjusted following talks with Beijing.

“145 percent is very high. It won’t be that high, it’s not going to be that high … it won’t be anywhere near that high,” Trump said from the Oval Office, signaling a shift once a bilateral agreement is reached. “It will come down substantially, but it won’t be zero.”

The tariff, which Trump previously described as “reciprocal,” was maintained on China even after he delayed similar penalties on other trading partners. Those were cut to 10% and paused for 90 days to allow room for further negotiation.

“We’re going to be very nice. They’re going to be very nice, and we’ll see what happens. But ultimately, they have to make a deal because otherwise they’re not going to be able to deal in the United States,” Trump said, reinforcing his view that the U.S. holds the leverage.

Trump’s remarks come as markets remain wary of ongoing trade tensions, though the White House signaled progress, saying it is “setting the stage for a deal with China.” The president cited his personal rapport with Xi Jinping as a key factor in his confidence that an agreement can be reached.

“China was taking us for a ride, and it’s not going to happen,” Trump said. “They would make billions a year off us and build up their military with our money. That’s over. But we’ll still be good to China, and I think we’ll work together.”

Treasury Secretary Scott Bessent also said Tuesday that he expects a cooling of trade hostilities between the two nations, according to several reports from a private meeting with investors.

As the 90-day pause on other reciprocal tariffs nears its end, Trump emphasized that his team is prepared to finalize deals quickly. “We’ve been in talks with many, many world leaders,” he said, expressing confidence that talks will “go pretty quickly.”

White House Press Secretary Karoline Leavitt added that the administration has received 18 formal proposals from other countries engaged in trade negotiations, another sign that momentum is building behind Trump’s broader push to restructure global trade in favor of American workers and businesses.

(Li Xueren/Xinhua via AP)

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