US President Donald Trump has revealed a significant detail regarding his aggressive tariff policy. Trump clarified that the revenue generated from tariffs will be used to bolster America's military and technology-related production, not consumer goods like shoes (sneakers) and clothing (t-shirts).
Trump stated his aim is to increase domestic production of high-tech products in America, such as weapons, chips, computers, AI equipment, tanks, and ships. He explicitly said, "We don't want to make sneakers and t-shirts; we want to make b military equipment and cutting-edge technological products."
Trump made this statement before boarding Air Force One in New Jersey. He reiterated the statement made by US Treasury Secretary Steven Mnuchin, asserting that America does not need a large textile industry. However, this stance has drawn b criticism from the National Council of Textile Organizations.
Trump's Grand Plan with Tariff Policy
This move by Donald Trump is viewed as part of an aggressive economic policy being prepared for his second term. He has imposed tariffs on several countries, including India. Although some tariffs have been temporarily suspended, they haven't been eliminated.
Trump further strengthened his aggressive trade stance by proposing a 50% tariff on European Union goods starting June 1st. He also threatened to impose a 25% tariff on all imported iPhones sold in the US. Trump stated that companies would face heavy taxes if they don't establish production units in America.
Threat to Phone Companies
Trump directly warned Apple and other smartphone companies that smartphones sold in the US must be manufactured in the US, not in China, India, or any other country. Trump claimed he had also spoken to Apple CEO Tim Cook about this.
Announcement of the 'Golden Dome' Missile Project
Trump's plan also includes an ambitious 'Golden Dome' missile defense system. This system will involve a $175 billion network of satellites capable of launching missiles from space to counter nuclear and conventional threats from countries like Russia, China, North Korea, and Iran.
Donald Trump's revelation clearly outlines his policy—re-establishing America as a global production hub and achieving self-reliance in high-tech and military equipment. This move also serves as a significant signal to countries, including India, that sell their products in the American market.
