As the markets put themselves in shock and foreign allies retreated after the presentation of radical tariffs to be imposed by the United States, President Donald Trump said he was looking at the future impact of his taxes.
In the case of manufacturing growth, a key administrative interest in imposing a 10% tax on all commercial partners and significantly higher rates in certain nations like China, Trump said that it could take years.
“Let’s say it is a two -year process,” Trump said when a journalist asked him on Thursday how long he will take the industry wherever he wants to see it.
“You know, they start a plant, and they are large plants that we are giving them approval to also, in many cases, build the electrical installation with it,” he continued. “Then, you have electricity generation and the plant, and they are large plants. Now, the good news is a lot of money for them, and they can build them quickly, but they are still very large plants. I would always say that it would take a year and a half to two years.”
Meanwhile, Trump ruled out concerns about short -term pain that economists hope to be transmitted to US consumers.
“It is expected where it is a very sick patient,” Trump said, comparing his economic policies with surgery.
“It will be a booming country, a very booming country,” said the president.
President Donald Trump talks to the members of the media before addressing Marine One at the White House South Law on April 3, 2025 in Washington, DC.
Andrew Harnik/Getty Images
The Trump Rate Plan, announced in the White House Garden on Wednesday, includes a 10% basal rate against all US business partners and more steep, more specific taxes against nations imposed by tariffs in US imports.
Jay Timmons, executive director of the National Manufacturers Association, issued a statement on Wednesday night criticizing the launch.
“It is not necessary to say that today’s announcement was complicated, and manufacturers are fighting to determine the exact implications for their operations,” Timmons said.
Timmons, which supervises the largest manufacturing trade association in the country, said the administration should make supplies that manufacturers use to produce products in the United States without rates and try to negotiate “zero” zero “tariffs for goods made by the United States in foreign markets.
“Betting for manufacturers could not be higher,” he said. “Many manufacturers in the United States already operate with thin margins,” he added, and “the high costs of the new tariffs threaten the investment, jobs, supply chains and, in turn, the capacity of the United States to overcome other nations and lead as the preeminent manufacturing superpower.”
The consequences continued on Friday to Trump’s Rate Plan. China responded to its own retaliation rates: a 34% tax in all American assets. The markets fell more in early trade, after registering their worst day since June 2020 on Thursday.
Trump pointed out an opening to the negotiation on Thursday, despite the officials of the White House throughout the day denying any possibility of negotiating tariffs.
Then, on Friday morning, Trump seemed to duplicate alone, writing in his social media site: “My policies will never change.”
