President Donald Trump took his tariff talk to new heights over the weekend, suggesting at a campaign rally that the United States hit offshore companies with tariffs of 150-300 percent unless they take imminent action to invest in American manufacturing.
Speaking at an event in Vandalia, Ohio on Saturday for Republican Senator Jon Husted and gubernatorial nominee Vivek Ramaswamy, the president said that corporations from South Korea, China, Japan and Canada could face steep duty hikes if they fail to invest in building U.S. operations soon.
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“Countries around the world, including China, Japan, Korea and Canada, have used tariffs against the United States for a long time,” the president said.
“We give them a little window of about a year and a half so they can build their plant here,” he suggested to the crowd, which gathered at an area high school. “If they don’t do that, we charge them a tariff of 150, 200, 250, 300 percent.”
Trump said his tariff strategy has brought in trillions of dollars-worth of investment to the U.S.
S. The agreement includes $200 in unspecified “commercially reasonable” strategic investments and $150 billion for shipbuilding. In exchange, Washington agreed to lower Seoul’s “reciprocal” tariff rate from 25 percent to 15 percent last July.
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