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Trump is still pursuing a tariff policy after the Republican Party’s defeat in the midterm elections, claiming that high tariffs can force foreign companies to build factories in the United States, otherwise they will face the threat of tariffs up to 300%.
President of the United Statestrump in the republican partymidterm elections After the fiasco, on the 5th, he still expressed his intention to stick to the current situationTariff Policy. He said that removing the tariffs would cause foreign companies to stop building factories in the United States, and warned that companies that did not set up factories in the United States could face tariffs of up to 300%.
South Korea’s Herald Economic News and SBS News reported that Trump was asked at the White House how he planned to use executive orders over the next two years and what measures he would take to strengthen his historic position. “We’re going to be doing a lot of things. You’re going to see a lot of things in the next week or two. A lot of things are being prepared,” he said.
Trump further said that foreign companies are building more than 3,000 factories and production facilities across the United States. If the tariffs were removed now, “all these factories would stop building.” He said that 99% of the reasons companies set up factories in the United States is to avoid paying “50%, 100%, 150%, 250%, or even 300%” tariffs, and emphasized that once a factory is built and begins operating, companies do not have to pay tariffs.
Trump further said that without tariffs, “there would be half-built factories all over the country” and that the United States would eventually import products from China, Japan, South Korea, and the Philippines, contrary to the Trump administration’s goal of making American manufacturing great again. He also claimed that prices would drop significantly when companies set up factories and begin operations in the United States, and dismissed those calling for the removal of the tariffs as “stupid people”.
The report pointed out that Trump recently admitted that high inflation caused by the war with Iran was the reason for the Republican Party’s defeat in the midterm elections, but the outside world still expects him to continue to exert strong influence in areas where the president has broad discretion, such as foreign affairs and trade. His threat of tariffs up to 300% was widely interpreted as a declaration that he would persist in promoting anti-tariff policies regardless of the election results.
Summary FAQ
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He made it clear that he would not withdraw the tariffs because of his defeat in the elections. Instead, he emphasized that he would continue to promote existing policies and predicted that more action would be taken in the next week or two.
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He argued that tariffs are the key to forcing foreign companies to set up factories in the United States. If the tariffs are lifted, investment in more than 3,000 factories could grind to a halt, and the goal of restarting manufacturing would be thwarted.
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The threat is intended to put pressure on companies that have not set up factories in the United States, announcing that regardless of the outcome of the election, it will continue to use tariffs to promote the recovery of American manufacturing and the restoration of supply chains.
