4 hours ago
Last Updated:September 30, 2025, 21:07 IST
Donald Trump said that tariffs had restored American wealth after decades of being “taken advantage of” by other countries.
US President Donald Trump. (AFP photo)
US President Donald Trump once again reiterated his belief that tariffs are making America “rich again", calling them his “favourite word" as he defended sweeping import duties that form the backbone of his “America First" trade agenda. Explaining his rationale, Donald Trump said that tariffs had restored American wealth after decades of being “taken advantage of" by other countries.
“I love tariffs- the most beautiful word. We’re becoming rich as hell. We’ve taken in trillions of dollars, and when this is finished, there will never be wealth like what we have," he said.
He added that the revenue was unprecedented, saying, “Other countries took advantage of us for years. Now we’re treating them fairly. The money coming in is something we’ve never seen. The other day they found thirty-one billion dollars- enough to buy a lot of battleships."
Donald Trump’s Global Tariff Policy
As part of his tariff drive, the Donald Trump administration has also targeted India, slapping twenty-five per cent reciprocal duties on Indian goods along with an additional twenty-five per cent levy linked to New Delhi’s purchase of Russian oil. This fifty per cent tariff burden ranks among the highest in the world. Donald Trump has repeatedly accused India of “fueling Russia’s deadly attacks on Ukraine" by buying discounted crude, even while holding back from imposing tougher sanctions on Moscow.
The latest round of tariffs in October 2025 includes one hundred per cent duties on branded pharmaceuticals, fifty per cent on kitchen cabinets and vanities, thirty per cent on upholstered furniture and twenty-five per cent on heavy-duty trucks. From mid-October, new duties will cover timber and lumber while tariffs on furniture and cabinetry will climb further in early 2026 for countries without trade deals. Donald Trump has also announced a planned one hundred per cent tariff on foreign-made films, though no implementation date has been set.
Location :
Washington D.C., United States of America (USA)
First Published:
September 30, 2025, 21:05 IST
News world ‘I Love Tariffs, Most Beautiful Word’: Trump Defends Policy, Says US Becoming ‘Rich As Hell’
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