President Donald Trump acknowledged on Tuesday that the United States economy will experience some “disturbance” due to tariffs but insisted that these measures are essential for boosting domestic industries.
Speaking before a joint session of Congress for the first time since reclaiming the White House, Trump emphasized that tariffs serve a greater purpose beyond job protection.
“Tariffs are not just about protecting American jobs. They’re about protecting the soul of our country,” he declared.
He assured Americans that while disruptions may arise, they would be manageable.
“There’ll be a little disturbance, but we’re okay with that. It won’t be much,” he added.
Trump made it clear that companies manufacturing outside the United States would face tariffs, stating, “in some cases a rather large one.”
He also criticized trade practices by the European Union and nations such as Canada, Brazil, India, Mexico, and South Korea, arguing that the system has long been unfair to the U.S.
“This is happening by friend and foe. This system is not fair to the United States, and never was,” he remarked.
According to Trump, reciprocal tariffs targeting specific trading partners will take effect on April 2 to correct these imbalances.
Touting the economic benefits of his trade policies, Trump predicted “trillions of dollars” in gains and significant job creation.
Restoring the economy, he emphasized, remains among his “very highest priorities.”
Addressing voter concerns over the cost of living, a major issue in the recent election that saw his return to office, Trump outlined his strategy to reduce inflation. His plan includes cutting federal spending and lowering energy costs.
Additionally, he pledged to implement “permanent income tax cuts all across the board.”
Since taking office, Trump has imposed tariffs on approximately $1.4 trillion worth of imports from key trading partners, including Canada, Mexico, and China, with further duties expected.
The policy shift has rattled financial markets and prompted retaliatory actions, including counter-tariffs.
Economists have cautioned that such sweeping tariffs may slow U.S. GDP growth and drive short-term inflation higher. However, Trump’s broader economic agenda, including tax cuts and deregulation, is designed to fuel long-term expansion.
In his address, Trump also criticized the CHIPS Act, a nearly $53 billion initiative providing subsidies to boost the U.S. semiconductor industry.
He called for an end to the program, signaling a shift in his administration’s approach to industrial policy.
