On April 2, US President Donald Trump announced a tax rate of at least 10% on almost all goods imported into the US. Vietnam is at 46%.

Speaking at a press conference called “Make America Rich Again” in the Rose Garden inside the White House on April 2 (US time), President Donald Trump declared this to be one of the most important days in US history when he announced a series of new tax policies.

Mr. Donald Trump praised the new import tax, calling it a “declaration of economic independence” of the US. He affirmed that the new import tax will create more manufacturing activities in the US, jobs and factories will return to the US. This will mean “stronger competition and lower prices for consumers”.

“With today’s actions, we are defending our great farmers. They have been hurt by countries all over the world,” he said.

The US leader was particularly critical of the tariffs Canada imposed on its dairy products. “It’s not fair to our farmers. It’s not fair to our country,” Trump said.

He said the US provides huge subsidies to countries like Canada and Mexico to “keep them in business.”

According to the White House boss, he is putting America first. The new tariffs, according to Donald Trump, will generate $6 trillion in investment, marking the largest tax increase in US history.

He announced that the US would use the revenue from the tariffs to reduce taxes and pay down the national debt. “And it will all happen very quickly,” Donald Trump added.

At the same time, Donald Trump said that countries that want to be exempted from the US’s reciprocal tax policy should change their trade policies. “Stop tariffs, take down barriers, stop manipulating currencies and start buying tens of billions of dollars of US goods,” he said.

The new US tariffs have raised concerns about exports to the US.

At the event in the Rose Garden, Donald Trump held a board announcing the reciprocal tax rates for each trading partner. He announced a tax rate of at least 10% on almost all goods imported into the US, plus even higher tariffs for dozens of countries with the highest trade deficits with the US.

CNN quoted Donald Trump’s statement as saying: “We will only impose half the tax rate they are imposing on us. That is, we will not apply the full rate. I could do that, but it would be difficult for many countries. We do not want to do that.”

Mr. Donald Trump signed two executive orders, including an order to impose a 25% tax on imported cars and a corresponding tax of 10% to 49% on all imported goods. According to VtcNews.