Trump’s Defense of High Tariffs: The Most Beautiful Word in the Dictionary
Trump Promises Tariffs to Bring Companies Back to the US
During an interview with Bloomberg News Editor-in-Chief John Micklethwait at the Economic Club of Chicago, President Trump emphasized his commitment to promoting growth and bringing companies back to the United States. He stated that his administration will further reduce taxes for companies that choose to produce goods in the US and will protect them with strong tariffs.
Trump expressed his enthusiasm for tariffs, calling it his favorite word in the dictionary. He believes that tariffs will incentivize companies to establish factories in the US, thereby avoiding the need to pay the tariff.
Moreover, Trump highlighted the importance of maintaining the reserve currency status of the dollar. He announced plans to impose tariffs on countries that move away from using the US dollar as a reserve currency.
In a lighter moment, Trump took a jab at the role of the US Federal Reserve Chairman, Jerome Powell. He joked about the perceived simplicity of the job, suggesting that it only involves flipping a coin once a month. Trump also expressed his belief that the US president should have a voice in the Fed’s decisions, indicating a desire for more involvement in the central bank’s operations.
Overall, Trump’s focus on tariffs as a tool for economic growth and protection of American interests underscores his administration’s commitment to reshaping trade policies and bringing companies back to the US.
