Trump Acknowledges Temporary Impact of Tariffs

• Trump Acknowledges Temporary Impact of Tariffs
• As Reported by EFE
• Full Details Below

U.S. President Donald Trump admitted this Thursday that his tariff policy will bring a «transition cost» to the economy, but insisted that the long-term results will be beneficial for the country.

«There will be a cost and transitional problems, but in the end, it will be something wonderful.»

«We are working with a lot of countries and everything will turn out fine.»

This is how the president expressed himself at the beginning of a meeting with his cabinet at the White House.

Trump Acknowledges Temporary Impact of Tariffs

#WORLD | President Donald Trump announced a temporary suspension, for 90 days, of tariffs applied to all nations, reducing them to 10% to facilitate negotiations requested by 75 countries. pic.twitter.com/tdweswxxii

– RCR (@rcrperu) April 10, 2025

The statements come a day after Trump ordered a 90-day tariff truce for most of the U.S.’s trading partners, except for China, a country to which he increased tariffs to 125%, bringing the total tariff on Chinese imports to 145%.

President Trump defended his strategy by asserting that the U.S. economy is strong and that daily tariff revenue has reached record levels.

“We are collecting approximately $2 billion a day. It will probably reach $3.5 billion. That makes us a very strong country,” he stated.

The president also celebrated the recent moderation of prices.

«It Should Have Been Done Many Years Ago,» Trump Emphasized

The EU decided this Thursday to suspend for 90 days its countermeasures against U.S. tariffs, after Donald Trump announced a pause on new tariffs for dozens of countries.https://t.co/qzmfloyyyy

— Canal 44 (@CANAL44TV) April 10, 2025

According to the Bureau of Labor Statistics (BLS), the Consumer Price Index (CPI) fell four-tenths in March, standing at 2.4% year-on-year, while it dropped 0.1% compared to February.

“There is no inflation. Very little inflation,” Trump highlighted.

The president argued that the imposition of tariffs «should have been done many years ago.»

And he blamed past administrations for allowing other countries “to become very rich at the expense of the United States.”

A Reevaluation of the Measures Is Recommended

Over the next three months, under Trump’s orders, nearly all of the country’s trading partners, including the European Union, will be subject to a “reduced” 10% tariff, the same one that began to apply last Saturday.

The measure partially reverses a more severe increase that was in effect only for a few hours this week.

Trump explained that the pause was due to growing concern in some sectors. “People were starting to get nervous and scared,” he said.

Meanwhile, the Director of the National Economic Council, Kevin Hassett, stated that the increase in U.S. debt yields created “more urgency” to reevaluate the tariffs.

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