The president highlights the compromising of national security by foreign trade practices and the need to protect U.S. manufacturing from “unfair outside competition.“
President Donald Trump announced a new round of tariffs last week to be imposed on October 1. The tariffs include 100 percent duties on imported branded drugs, 25 percent on heavy-duty truck imports, 50 percent on kitchen cabinets, and 30 percent on upholstered furniture. The president’s goal is to reshore the manufacturing of goods into the U.S.
President Trump offered further details regarding some of the tariffs, stating, “We will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America. ‘IS BUILDING‘ will be defined as, ‘breaking ground‘ and/or ‘under construction.‘ There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started.“
Of the cabinets and furniture, the president stated, “The reason for this is the large scale ‘FLOODING‘ of these products into the United States by other outside Countries. It is a very unfair practice, but we must protect, for National Security and other reasons, our Manufacturing process.“
President Trump said that the truck tariff is to “protect our Great Heavy Truck Manufacturers from unfair outside competition.“ He added, “Our Great Large Truck Company Manufacturers, such as Peterbilt, Kenworth, Freightliner, Mack Trucks, and others, will be protected from the onslaught of outside interruptions. We need our Truckers to be financially healthy and strong, for many reasons, but above all else, for National Security purposes!“
The president also announced a 100 percent tariff on films made outside the United States.
As the Lord Leads, Pray with Us…
- For President Trump to be prudent in his imposition of tariffs and to seek God’s direction as he works to support the nation’s economy.
- For the president and his Cabinet to be led by the Lord in their decisions and actions.
Sources: NBC News, Townhall, Daily Wire
