'PM Modi Great Friend Of Mine': Top Quotes From Trump's 'Liberation Day' Reciprocal Tariffs Speech

Last Updated:April 03, 2025, 05:47 IST

Reflecting on Prime Minister Narendra Modi’s visit to the US in February, he described him as a “great friend" but criticised India for imposing “very tough" tariffs

US President Donald Trump pumps his fist after signing an executive order after delivering remarks on reciprocal tariffs during an event at the White House (AFP Image)

US President Donald Trump unveiled his “Liberation Day" tariffs on Wednesday, sending fears of a trade war ricocheting around the world.

In a closely watched speech in the White House Rose Garden, the billionaire businessman said April 2, 2025 would “forever be remembered as the day American industry was reborn," insisting that domestic manufacturing would surge with companies flocking to the United States to make their products.

Trump made clear he was no longer allowing imports into the United States without an appropriate tariff — and said countries should embrace “a little tough love."

“Foreign leaders have stolen our jobs, foreign cheaters have ransacked our factories, and foreign scavengers have torn aport our once-beautiful American Dream," Trump warned.

Reflecting on Prime Minister Narendra Modi’s visit to the US in February, he described him as a “great friend" but criticised India for imposing “very tough" tariffs, stating that the country hasn’t treated the US fairly in trade matters.

“The Prime Minister just left. He’s a great friend of mine. But I said, ‘You’re a friend of mine, but you haven’t been treating us right’. They charge us 52 per cent, but we charge them almost nothing for years and decades. It was only seven years ago when I came in," he said.

In a strong move on trade policy, announced a 26% reciprocal tariff on Indian goods.

Here are the other highlighted quotes from his remarks.

Trump’s ‘Liberation Day’ Speech: Top Quotes

“For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike," Trump said, stressing that trade abuse by allies was often more intense than that committed by rivals.“This is one of the most important days, in my opinion, in American history. It’s our declaration of economic independence."“Jobs and factories will come roaring back into our country, and you see it happening already. We will supercharge our domestic industrial base. We will pry open foreign markets and break down foreign trade barriers, and ultimately, more production at home will mean stronger competition and lower prices for consumers."Despite unveiling “minimum baseline" tariffs of 10 per cent on trading partners, Trump sought to spin his move as a positive for global trade. “We are being very kind," the president said. “We will charge them approximately half of what they are and have been charging us."The world’s second largest economy, China, appeared at the top of the tariffs list Trump held up at the podium. “We’re going to be charging a discounted reciprocal tariff of 34 per cent" on China imports, Trump said.“They charge us, we charge them, we charge them less. So how can anybody be upset? They will be, because we never charged anybody anything. But now we’re going to charge."Trump said China’s President Xi Jinping was among several world leaders who “understand" the need for the tariffs, such as the ones he slapped on Chinese steel and other products during his first term as president.“From 1789 to 1913 we were a tariff-backed nation, and the United States was proportionately the wealthiest it has ever been," said Trump, who has repeatedly elevated 1890s protectionist president William McKinley as one of his heroes who also slapped tariffs on imports.“In 1913 for reasons unknown to mankind, they established the income tax so that citizens, rather than foreign countries, would start paying the money necessary to run our government," Trump said.“Then in 1929, it all came to a very abrupt end with the Great Depression. And it would have never happened if they had stayed with the tariff policy," Trump said.

(With agency inputs)

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United States of America (USA)

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