Ana Swanson

So by that, he means the tariffs that other countries are charging on American products, but also other barriers that they have to U.S. imports, other regulations that might make it harder for U.S. businesses or farmers to sell their products in those countries.

So by that, he means the tariffs that other countries are charging on American products, but also other barriers that they have to U.S. imports, other regulations that might make it harder for U.S. businesses or farmers to sell their products in those countries.

Exactly.

Exactly.

So when he held up that chart, we immediately started taking pictures of it and sharing it around because the numbers were a mystery to everybody up until he walked into the Rose Garden. And some of the numbers are pretty big. So the chart said, for example, that the U.S. would impose an additional 34% tariff on Chinese goods.

So when he held up that chart, we immediately started taking pictures of it and sharing it around because the numbers were a mystery to everybody up until he walked into the Rose Garden. And some of the numbers are pretty big. So the chart said, for example, that the U.S. would impose an additional 34% tariff on Chinese goods.

That comes on top of a 20% tariff that the president has imposed on China in recent months.

That comes on top of a 20% tariff that the president has imposed on China in recent months.

Right. And these big tariffs don't just apply to countries like China. They apply to some of our allies, too. So there's also an additional 20% tariff that'll be charged on imports from the European Union and a 24% tariff that applies to goods from Japan.

Right. And these big tariffs don't just apply to countries like China. They apply to some of our allies, too. So there's also an additional 20% tariff that'll be charged on imports from the European Union and a 24% tariff that applies to goods from Japan.

So the president has talked about having a lot of goals that he wants to accomplish with tariffs. He wants to reverse the trade deficit. He wants to bring manufacturing back to the United States. He wants to raise revenue. So before today, there was a question about what exactly he would do with these tariffs, what he would try to accomplish with them.

So the president has talked about having a lot of goals that he wants to accomplish with tariffs. He wants to reverse the trade deficit. He wants to bring manufacturing back to the United States. He wants to raise revenue. So before today, there was a question about what exactly he would do with these tariffs, what he would try to accomplish with them.

In the lead up to this announcement, we had reported that there were two camps in the White House. And so one was interested in this baseline tariff, this broad tariff that would apply to a lot of imports. And essentially, as imports came into the country, would raise a lot of revenue for the government. And that revenue could be used for other purposes like funding tax cuts.

In the lead up to this announcement, we had reported that there were two camps in the White House. And so one was interested in this baseline tariff, this broad tariff that would apply to a lot of imports. And essentially, as imports came into the country, would raise a lot of revenue for the government. And that revenue could be used for other purposes like funding tax cuts.

And then there was another camp that favored reciprocal tariffs. So these are tariffs that would be higher or lower based on other countries' trading practices, and which would really be used as a negotiating platform.

And then there was another camp that favored reciprocal tariffs. So these are tariffs that would be higher or lower based on other countries' trading practices, and which would really be used as a negotiating platform.

tactic to try to get those countries to lower the trade barriers that they have on the United States, lower their tariffs with the goal of having more trade and having more US exports. And so what Trump ended up announcing today was essentially a version of both.

tactic to try to get those countries to lower the trade barriers that they have on the United States, lower their tariffs with the goal of having more trade and having more US exports. And so what Trump ended up announcing today was essentially a version of both.

So he decided to do this baseline tariff that will apply broadly to all imports, will raise revenue for the government, he believes will also help to reverse the trade deficit, and then higher reciprocal tariffs that are really more directed at what he calls unfair behavior by other countries against the United States.

So he decided to do this baseline tariff that will apply broadly to all imports, will raise revenue for the government, he believes will also help to reverse the trade deficit, and then higher reciprocal tariffs that are really more directed at what he calls unfair behavior by other countries against the United States.