WASHINGTON, March 4 (Xinhua) -- U.S. President Donald Trump on Tuesday defended his tariff strategy but acknowledged that such policies will cause "a little disturbance."
"Starting on April 2, reciprocal tariffs kick in. And whatever they tariff us, other countries, we will tariff them. That's reciprocal, back and forth," Trump said in an address to a joint session of Congress, accusing trading partners of charging the United States "tremendously higher tariffs."
Trump said that tariffs on agricultural products will go into effect on April 2 and that his new trade policy will "be great" for American farmers. He first announced it Monday on social media.
The U.S. president, however, acknowledged that "there'll be a little disturbance" and that "we're okay with that. It won't be much."
Nevertheless, economists and observers have expressed deep concerns about the potential impact of tariffs on the U.S. economy.
The Tax Foundation estimated that, without considering retaliatory measures, Trump's 25 percent tariffs on Canada and Mexico, which went into effect Tuesday, will reduce long-term GDP by 0.2 percent, reduce hours worked by 223,000 full-time equivalent jobs, and reduce after-tax incomes by an average of 0.6 percent.
The move sparked a strong reaction. Canadian Prime Minister Justin Trudeau said on Tuesday that his country will not back down from a fight against the tariffs, with its first response including tariffs on U.S. goods like orange juice, peanut butter and wine. Mexican President Claudia Sheinbaum on Tuesday urged Mexicans to unite against the tariffs, promising both tariff and non-tariff responses.
In Trump's speech, he detailed his administration's achievements since taking office, including the deportation of illegal immigrants and the reduction of federal spending, and announced plans for further tax cuts. He also said that he is working "tirelessly" to end the conflict between Russia and Ukraine.
During the one-hour-and-40-minute address, Republican lawmakers frequently stood up to applaud, while Democratic lawmakers remained largely expressionless, reflecting stark partisan divides.
Within the first five minutes of Trump's speech, Texas Democratic Representative Al Green stood up and gestured toward the president with his cane, and was quickly escorted out of the House chamber. Throughout the speech, some Democratic lawmakers repeatedly waved signs in protest. ■
