WHAT THEY ARE SAYING:

SENATE APPROVES LANDMARK

ONE BIG BEAUTIFUL BILL
 

July 1, 2025

The Senate delivered a resounding victory for American workers, farmers, and small businesses by passing President Donald J. Trump’s One Big Beautiful Bill — a transformative legislative package that locks in historic tax relief, delivers border security, reforms welfare, funds critical infrastructure, and more.

Industry leaders and stakeholders nationwide hailed the Senate’s vote and called on the House to swiftly send the bill to President Trump’s desk:

Airlines for America: “We are grateful that the Senate understands the urgent need to overhaul our nation’s air traffic control (ATC) system and included $12.5 billion in their reconciliation package for that cause. This is an important first step as Secretary Duffy works to implement President Trump’s vision of a brand new, state-of-the-art system. We especially appreciate Commerce Committee Chairman Ted Cruz for his long-time dedication to the safety and efficiency of our nation’s airspace. We urge the House of Representatives to quickly pass this legislation so President Trump can sign the One Big Beautiful Bill into law, begin the work of upgrading our ATC system and revitalize our airspace.”

America’s Credit Unions President and CEO Jim Nussle: “We thank the U.S. Senate for securing the credit union not-for-profit tax status and not adding a new tax on 142 million credit union members as part of H.R. 1. Hard working Americans and their communities rely on the competitive rates and personally tailored services offered by credit unions to achieve their American Dream. By preserving the credit union tax status, it provides consumers across the country with more opportunities to achieve financial freedom.”

American Airlines: “American Airlines strongly supports the much-needed funding to bolster and modernize our air traffic control system in the Senate reconciliation bill. In addition to staffing challenges, the U.S. air traffic control system’s technology and infrastructure have fallen behind much of the world. As President Trump and Secretary Duffy urgently work to build a state-of-the-art air traffic control system, this down payment is an essential first step in making aviation even safer and more efficient. The reconciliation bill also extends other key pro-growth tax policies that provide businesses with the necessary certainty to continue driving the economy. We urge the House to move swiftly and pass the bill.”

American Farm Bureau Federation President Zippy Duvall: “Farm Bureau applauds the U.S. Senate for passing the reconciliation package. Farmers and ranchers are the foundation of America’s food supply chain, and they need the certainty that this legislation will provide. Improvements to farm safety net programs that reflect today’s agricultural economy and maintaining important tax provisions will directly benefit farm and ranch families … Important tax provisions will also help farmers save money that can be used to pay bills, invest in new technologies, and pass the family farm to the next generation. We now urge the House to pass the bill and get it to the president’s desk for his signature to ensure America’s farmers and ranchers can continue putting food on the table for America’s families.”

American Federation for Children CEO Tommy Schultz: “The mission is clear: deliver school choice to every state in America. Today’s vote marks a monumental step toward that goal for the first time in history … We are eager to see President Trump sign school choice into law!”

American Hotel & Lodging Association President and CEO Rosanna Maietta: “AHLA applauds the Senate’s swift action today to prevent major tax increases on both hotel employees and businesses. The tax provisions included in the Senate bill provide small business hotel owners with the level of certainty they need to effectively operate amidst tremendous uncertainty resulting from years of inflation, trade impacts, and a softening of demand within the broader travel sector. We commend Majority Leader Thune, Senator Crapo, and other Senate champions for securing passage. We urge Congress to swiftly get this package to the President’s desk for his signature to help put businesses back on a pro-growth footing.” 

American Iron and Steel Institute President and CEO Kevin Dempsey: “Capital investment is crucial for economic growth and job creation in the American steel industry and the manufacturing sector as a whole. Many of the key capital cost recovery provisions of the 2017 tax law have expired or are being phased out. Restoring these provisions is essential to ensuring that many companies will be able to make new investments in steel-intensive facilities and machinery. We applaud Senate passage of this legislation which will permanently restore key provisions that have a proven record of fueling innovation and economic growth, including 100 percent bonus depreciation for business investment, immediate expensing for domestic research and development expenses and the EBITDA-based limitation on business net interest deductions. We urge the House to pass this bill and send it to President Trump this week so that he can sign it into law as soon as possible.”

American Petroleum Institute President and CEO Mike Sommers: “We applaud the Senate for passing the One Big Beautiful Bill to bolster America’s energy advantage and support economic growth. This historic legislation will help usher in a new era of energy dominance by unlocking opportunities for investment, opening lease sales and expanding access to oil and natural gas development. We will continue to work with policymakers to get this final package to President Trump’s desk.”

American Soybean Association President Caleb Ragland: “ASA applauds the Senate for its support of agriculture and the farm economy in this legislation. Soybean growers have long championed comprehensive revisions to the 45Z Clean Fuel Production Credit, an improved safety net for agriculture, and increased support for research and market expansion. The modified biofuel tax credits, enhancements to crop insurance and support for MAP and FMD, among other agriculture provisions included in this legislation will support U.S. farmers and expand market opportunities domestically. ASA urges the House to maintain these key agricultural provisions that support our rural economies as they consider this legislation.”

American Trucking Association SVP of Legislative Affairs Henry Hanscom: “The American Trucking Associations is grateful to Senate Republicans for their hard work to craft a package that will guarantee tax certainty for our nation’s trucking companies. Trucking is the backbone of our economy, employing over 8.5 million Americans in companies that range in size from one-truck operators and small family businesses to enterprise carriers.  Enacting pro-business, pro-growth tax policies will ensure that all of those companies are able to better plan for the future, invest in their workforce and equipment, and move freight safely and efficiently.  As the industry that moves 72% of America’s freight by tonnage, and that is the sole source of freight services for more than 80% of American communities, ATA looks forward to President Trump signing this measure into law as soon as possible.”

Americans for Prosperity Chief Government Affairs Officer Brent Gardner: “We are so close to delivering a generational win to Americans by making pro-growth tax policy permanent. When we pass this bill, job creators and families will have the certainty they need to invest in their businesses and futures, reigniting the American Dream. We are encouraged by the thoughtful and productive discussions that have brought this legislation back to the House and urge members to pass it expeditiously to ensure that Americans start reaping the benefits of this transformative legislation as soon as possible … It’s time to get this bill to the Oval Office for President Trump’s signature. We’re at the goal line, it’s time to punch it in. Let’s fulfill all those campaign promises and secure this victory for hardworking American taxpayers.”

Associated Builders and Contractors VP of Government Affairs Kristen Swearingen: “Tax certainty and pro-growth policies are not abstract policy goals for construction businesses—they are the foundation that allows ABC members to invest, grow and keep America building. We thank the Senate for passing this important legislation and urge the U.S. House of Representative to take swift action to send it to the president’s desk.”

Associated Equipment Distributors President and CEO Brian P. McGuire: “By permanently extending and restoring pro-growth, capital investment incentivizing tax policies, the Senate is ensuring long-term tax code certainty that will benefit the equipment sector and the broader economy. AED applauds Senate Majority Leader John Thune and his team for heeding our call for tax permanence, and we urge the House to pass this legislation and send it to the president’s desk expeditiously.”

Association of Equipment Manufacturers SVP of Government and Industry Relations Kip Eideberg: “The Association of Equipment Manufacturers applauds the U.S. Senate’s passage of the One Big Beautiful Bill (OBBB) Act — a historic bill that will strengthen U.S. manufacturing, providing the certainty in the tax code necessary for equipment manufacturers to innovate, invest, and create more family-sustaining jobs right here in America. By extending and expanding the tax reforms from 2017, the OBBB will help equipment manufacturers build more in America, while also bolstering our global competitiveness. We commend Leader Thune for his leadership and commitment to ensuring the permanence of President Trump’s pro-growth tax reforms, and applaud the lawmakers involved in driving this effort forward. We urge the U.S. House of Representatives to act swiftly and send the bill to President Trump’s desk.”

Business Roundtable CEO Joshua Bolten: “Today’s vote puts us on the cusp of extending and strengthening tax reform. Business Roundtable applauds the Senate for passing the One Big Beautiful Bill … The House now has the opportunity to send a swift, decisive signal that America will remain a premier destination for business to invest, hire, and grow. We urge the House to act without delay and send the bill to President Trump’s desk by the Fourth of July.”

Center for Transportation Policy Executive Director Jackson Shedelbower: “… it’s clear that lawmakers are united in an effort to modernize the country’s aging air traffic control systems. The $12.5 billion that is appropriated in both versions of the package will be a strong down payment towards ensuring that the U.S. maintains its reputation as a global leader in air travel. Lawmakers need to work out the remainder of their differences so the legislation can be swiftly pushed over the finish line.”

CTIA—The Wireless Association President and CEO Ajit Pai: “CTIA applauds the Senate for passing the One Big Beautiful Bill, which includes a solid spectrum pipeline and smart tax provisions to support wireless investment. Along with restoring FCC auction authority, establishing a robust 800-megahertz pipeline of mid-band spectrum with a specific timeframe for action is critical to meeting growing consumer demand, securing U.S. leadership in 5G, and strengthening national and economic security.  The bill’s targeted tax incentives will accelerate private investment in next-generation networks and support infrastructure deployment, job creation, and economic growth across the country. We thank Senate leadership, including Senate Majority Leader John Thune, Senate Commerce Committee Chairman Ted Cruz, and Senator Marsha Blackburn for their commitment to securing America’s wireless future, and we urge swift action to pass this legislation so President Trump can sign it into law.”

Concerned Veterans for America Executive Director John Vick: “This legislation represents a win for American families, small businesses, and veterans across the country―groups that form the backbone of a thriving and resilient nation. This is a monumental moment for Americans who believe in hard work, opportunity, and service. The One Big Beautiful Bill Act sets the stage for lasting prosperity and a stronger future for those who have sacrificed the most.”

Global Business Alliance President and CEO Jonathan Samford: “I applaud Chairman Mike Crapo, Leader John Thune and their Senate colleagues for advancing international tax policies that keep the U.S. the top destination for global investment. These provisions will help sustain American jobs, drive innovation, and reinforce a stable tax environment that attracts cross-border capital and world-class know-how. I urge swift House action and final passage of this One Big Beautiful Bill Act in order to secure America’s competitive edge.”

Iowa Biodiesel Board Executive Director Grant Kimberley: “These improvements to the biomass-based diesel tax incentive come at a pivotal moment for the industry, which has seen months of uncertainty, stalled production and investment hesitation. Together with EPA’s proposed increase in Renewable Fuel Standard volumes—projecting more than 2 billion additional gallons of biomass-based diesel in 2026—the tax developments point to a significant resurgence in clean fuel demand. This gives us much-needed certainty for the near future.”

Information Technology Industry Council President and CEO Jason Oxman: “The One Big Beautiful Bill will advance President Trump’s vision of ensuring America outpaces global competitors and remains the world’s leader in technology. We’re pleased to see the Senate pass the reconciliation text with strong innovation-focused language that will empower companies to invest in America by restoring critical research and development expensing and stimulate economic growth and high-skilled job creation. We urge the House of Representatives to send this critical package to President Trump as quickly as possible.”

Job Creators Network CEO Alfredo Ortiz: “By passing this tax cut bill, Republican Senators show once again that they are the party of Main Street. By expanding and making permanent the Tax Cuts and Jobs Act, including restoring full, immediate expensing, the Senate has delivered historic, pro-growth reform that can last for generations. These tax cuts empower small business owners to invest, hire, raise wages, and reinvest in their communities, ushering in America’s next Golden Age. On behalf of Main Street, JCN calls on the House to quickly pass this legislation and get it to President Trump’s desk by July 4, giving America the best birthday present it could ask for.”

National Association of Home Builders Chairman Buddy Hughes: “NAHB commends the Senate for passing the One Big Beautiful Bill Act. This legislation will help spur economic growth and allow our members to invest more resources in multifamily rental construction, land development to build more single-family homes, and new equipment to expand their businesses. In turn, this will create a better business climate that allows builders to increase the nation’s housing supply, which is crucial to help ease America’s housing affordability crisis. We urge the House to move quickly to pass this bill.”

National Association of Manufacturers President and CEO Jay Timmons: “The Senate just pushed the ball deep into the red zone. Now it’s the House’s turn to finish the drive and deliver a big win for manufacturers in America. The Senate advanced a tax package that will strengthen small businesses, family-owned operations and manufacturing workers across the country. It drives manufacturers closer to the goal line—growing businesses, creating jobs and powering stronger communities. After months of driving, months of endurance and effort, months of playing audacious offense and tenacious defense, months of partnership between manufacturers of every industry and our leaders in Congress and the administration, the House now can finish the job. We call on our partners in the House to send this bill to the president’s desk—the strongest tax bill for manufacturers we have seen in a generation. Because when Congress champions the 13 million people who make things in America, manufacturing wins—and when manufacturing wins, America wins.”

National Business Aviation Association President and CEO Ed Bolen: “We thank the Senate for recognizing with this initial funding that a safe and efficient national airspace requires a robust, resilient ATC system that bolsters our nation’s global aviation leadership. As leading economists have found, immediate expensing helps companies and entrepreneurs relying on business aviation have access to a critical competitive asset, while strengthening America’s manufacturing base. These provisions represent an important investment in an essential American industry, and the citizens, companies and communities that depend on it. NBAA looks forward to their continued progress.”

National Cattlemen’s Beef Association SVP of Government Affairs Ethan Lane: “The Senate version of the One Big Beautiful Bill protects family farmers and ranchers across the country from a massive tax hike at the end of the year, increases the Death Tax exemption, makes the Section 199A tax deduction permanent, increases the Section 179 tax deduction, funds foreign animal disease prevention programs, and delivers so many more wins for cattle producers … It’s time for the House to pass this bill and send it to President Trump’s desk so he can sign it into law.”

National Corn Growers Association President Kenneth Hartman, Jr.: “NCGA has worked closely with members of Congress as they drafted and voted on this legislation. We are particularly pleased to see the permanent extension of certain tax provisions, which will provide more certainty to corn farmers around the country as they plan for the future of their businesses.”

National Cotton Council Chairman Patrick Johnson: “The NCC appreciates the momentous effort that has gone into crafting and passing the One Big Beautiful Bill. We are grateful for the Senate’s commitment to delivering meaningful enhancements to the cotton safety net, which is absolutely critical for the stability and future of our industry.”

National Council of Farmer Cooperatives President and CEO Chuck Conner: “We commend the Senate for advancing permanent tax relief through the extension of Section 199A, a key priority for farmer co-ops that ensures they are not penalized for doing business together. Equally important are the provisions extending Section 179 expensing and the clean fuel production credit under Section 45Z, which provide producers and co-ops with the incentives and tools they need to innovate, invest, and lead the transition to a more sustainable agricultural future. We also appreciate the Senate’s attention to the needs of production agriculture by updating reference prices and commodity title support to reflect today’s economic realities. Combined with a significant increase in funding for market development programs, these provisions will help producers reach new markets and stay competitive amid global uncertainty. Now, it’s time for the House of Representatives to act. We urge lawmakers to take up the Senate package without delay and send it to the president’s desk before the July 4th recess. America’s farmers can’t afford to wait.”

National Council of Textile Organizations President and CEO Kim Glas: “On behalf of the U.S. textile industry, I would like to commend Senate leaders for including an important provision in the broader budget reconciliation bill that would permanently end de minimis for commercial shipments from all countries, effective July 2027. The Senate language mirrors a provision included in the House reconciliation package passed earlier in May … We are also grateful that the Trump administration has already used executive authorities to end de minimis access for Chinese goods—which represent approximately two-thirds of all de minimis shipments—while also laying the groundwork to close de minimis to commercial shipments from all countries.”

National Foreign Trade Council VP for International Tax Policy Anne Gordon: “We welcome Senate passage of the One Big Beautiful Bill … We welcome the Senate’s decision to retain core international and business provisions of the Tax Cuts and Jobs Act in its version of the bill, as well as including permanent immediate expensing of research and development and reinstating depreciation and amortization in the interest deduction limitation. We are also pleased to see the Senate make permanent the look-through for controlled foreign corporations and provide other long-needed international tax fixes for U.S. corporations. As the House considers the revised bill, we encourage swift consideration and passage of tax legislation that incentivizes investment, innovation, and global opportunity for America’s job creators.”

National Milk Producers Federation President Gregg Doud: “Dairy farmers are grateful for legislation that will create several key opportunities for dairy. Following last month’s successful vote in the House, we are excited that the Senate’s legislation also positions these investments to benefit dairy farmers and the cooperatives they own. We hope they are enacted into law as swiftly as possible.”

National Mining Association President and CEO Rich Nolan: “We urge the House to quickly pass this bill, which increases the competitiveness of the American mining industry and provides vital incentives, including funding to counter China’s mineral dominance. The bill also makes improperly withdrawn lands available for energy production, which is key to supplying a reliable electric grid capable of powering our nation’s future. Through these measures, the bill will directly support U.S. economic growth and security. Mining feeds and fuels virtually every American supply chain; a strong mining industry creates an equally strong foundation for every industry that depends on the products and energy we provide. More can be done, and the NMA will continue to advocate with Congress and the administration on ways to support additional domestic mining, and mineral production and processing.”

National Pork Producers Council President Duane Stateler: “We appreciate the efforts of Agriculture Chair John Boozman and other Senate leadership to ensure key animal health provisions were included in the bill, along with tax and other measures important to agriculture. Foreign animal diseases (FADs) threaten not only the livelihoods of pork producers but also our food supply chain at large. We thank our congressional leaders for these important steps to help keep our pork supplies safe, secure, and affordable for American families.”

National Restaurant Association EVP for Public Affairs Sean Kennedy: “This bill includes the most important pro-growth tax policies restaurant operators need to continue to power the national economy. The inclusion of permanent policies for 199A qualified business income deduction, full expensing of capital investments, and the return of depreciation and amortization in the calculation of business interest expense will give restaurant operators working capital to invest in their businesses and employees. We are also pleased to see the inclusion of policies like No Tax on Tips and Overtime that will benefit our workforce. We appreciate the work that has gone into getting this bill through the Senate and encourage the House to quickly pass it, sending it to the President for signature.”

National Roofing Contractors Association CEO McKay Daniels: “This legislation is critical to providing certainty for all businesses to continue to invest in their employees and grow their companies. In particular, the bill is a huge win for ‘main street,’ family-owned and pass-through entities that represent 95% of all U.S. businesses and employ the majority of private-sector workers. Without passage of this legislation, our industry will face rising tax burdens and diminished global competitiveness. Congress must act now to secure a stable future for America’s job creators.”

National Small Business Association President and CEO Todd McCracken: “NSBA applauds the Senate for passing H.R. 1, the One Big Beautiful Bill Act which includes NSBA’s #1 priority, permanency for the small-business tax rate cut in the form of the 199A Qualified Business Income deduction. Enacting this provision and several others—including reversing a very problematic change to the R&D tax deduction—is a major win for small business. As our nation celebrates Independence Day, I urge the House to pass the language approved in the Senate and give America’s small businesses the freedom and independence they need and deserve to keep their businesses thriving.”

National Sorghum Producers Chair Amy France: “These are critical improvements that will help sorghum producers manage risk, plan for the future, and stay competitive. We’re grateful to Chairman Boozman and other leaders in the Senate Ag Committee who ensured these priorities were part of the final bill.”

Nuclear Energy Institute President and CEO Maria Korsnick: “We applaud the U.S. Senate for advancing policies that recognize the important role of nuclear energy to achieve a reliable, affordable and increasingly clean energy system. The Senate version of the budget reconciliation bill restores the nuclear power production tax credit through 2032, and the tax credits for new nuclear generation through 2033, with transferability retained for both. The Senate version also preserves the viability of the Loan Program Office by extending the program’s authority and funding from 2026 to 2028, although the appropriation of $1B is less than available under current law. Maintaining the tax provisions in the Senate bill will continue to address economic hurdles and provide confidence to invest in today’s nuclear plants, while securing long-term, well-paying jobs. Further the bill allows us to continue down the path to achieve the Administration’s ambitious goals for deploying new, cutting-edge nuclear technologies that will meet the growing demand for more reliable energy.”

Philanthropy Roundtable COO Elizabeth McGuigan: “Now more than ever, we need a strong, vibrant civil society. Government spending is shrinking – which is a good thing – and generous Americans are ready and willing to support causes and communities around the country. We’re especially grateful for the leadership of President Donald J. Trump, whose pro-growth, pro-America agenda continues to inspire strong economic stewardship. We encourage the House to pass the Senate bill quickly and without changes.”

RATE Coalition Executive Director Dan Combs: “Today’s vote is a major win for workers, businesses, and the American economy as a whole. By preserving the 21 percent corporate tax rate, the Senate has reaffirmed its commitment to a competitive tax code that drives investment, fuels job growth, and ensures the U.S. remains the best country in the world to start and grow a business.  We applaud this strong, pro-growth action and urge lawmakers to expeditiously finalize the legislation and send it to President Trump’s desk without delay.”

Small Business & Entrepreneurship Council President and CEO Karen Kerrigan: “We commend Republican Senate leaders for their tireless work in getting the ‘One Big Beautiful Bill Act’ to this critical stage for America’s small business owners and entrepreneurs. Their commitment to advancing this powerful package shows incredible dedication to the success of Main Street businesses across the country and to the future of U.S. entrepreneurship. Now, House members must focus on the widespread gains in the legislation for the U.S. economy, workers, families, and small business owners. We urge the House to promptly pass the bill so it can be signed by President Trump.”

Steel Manufacturers Association: “Congratulations to the @SenateGOP for passing H.R. 1! The bill will make historic investments in Americans, our workers, our communities and our economy will all benefit.”

The LIBRE Initiative President Daniel Garza: “We commend the Senate for passing H.R. 1 to make the Trump tax cuts permanent—measures that have proven to deliver real benefits to hardworking families, job creators, and entrepreneurs across the country. For Latinos—who are starting businesses at a notable rate and powering local economies—this bill is not just good policy, it’s essential.  By making the low tax rates and small business provisions permanent, this legislation helps ensure that Latino workers, small business owners, and families can thrive with greater certainty, flexibility, and opportunity. Tax relief allows families to keep more of what they earn, invest in their future, and weather economic uncertainty with confidence. We applaud the Senate for sending a clear message that the American Dream remains alive and within reach for all—especially those working hard to build a better life.”

U.S. Chamber of Commerce EVP and Chief Policy Officer Neil Bradley: “With today’s vote, the Senate has taken decisive action to deliver the kind of permanent tax relief the American business community has been calling for. The tax provisions included in this bill will not only drive economic growth and sharpen America’s competitive edge but also put more money in workers’ pockets, increasing prosperity in communities across the country. The Chamber thanks Leader Thune, Chairman Crapo, and all who are working to make the pro-growth reforms of the 2017 Tax Cuts and Jobs Act permanent, including the deduction for domestic R&D expenditures, 100% bonus depreciation for certain business investments, and an expanded business interest limitation. The Chamber applauds the Senate for voting to make these provisions permanent features of the tax code. We urge lawmakers to swiftly pass the OBBBA and deliver it to President Trump to be signed into law.”

USA Rice Farmers Chair LG Raun: “USA Rice applauds the Senate for passing the OBBB Act including a historic and critical investment in the farm safety net. We urge the House of Representatives to take up and pass this bill with the key ag investments before the 4th of July.”

Wine & Spirits Wholesalers of America President and CEO Francis Creighton: “On behalf of the Wine & Spirits Wholesalers of America, I want to thank the United States Senate for passing President Trump’s One Big Beautiful Bill Act under Section 198A. This critical legislation empowers America’s family-owned wholesalers to reinvest, compete, and thrive. We urge the U.S. House to act swiftly and send this bill to the President’s desk without delay.”

TRUMP EFFECT: A Running List of New U.S. Investment in President Trump’s Second Term

May 16, 2025

Since President Donald J. Trump took office, his unwavering commitment to revitalizing American industry has spurred trillions of dollars of investments in U.S. manufacturing, production, and innovation — and the list only continues to grow.

Here is a non-comprehensive running list of new U.S.-based investments in President Trump’s second term:
 

• Project Stargate, led by Japan-based Softbank and U.S.-based OpenAI and Oracle, announced a $500 billion private investment in U.S.-based artificial intelligence infrastructure.
• Apple announced a $500 billion investment in U.S. manufacturing and training.
• NVIDIA, a global chipmaking giant, announced it will invest $500 billion in U.S.-based AI infrastructure over the next four years amid its pledge to manufacture AI supercomputers entirely in the U.S. for the first time.
• IBM announced a $150 billion investment over the next five years in its U.S.-based growth and manufacturing operations.
• Taiwan Semiconductor Manufacturing Company (TSMC) announced a $100 billion investment in U.S.-based chips manufacturing.
• Johnson & Johnson announced a $55 billion investment over the next four years in manufacturing, research and development, and technology.
• Roche, a Swiss drug and diagnostics company, announced a $50 billion investment in U.S.-based manufacturing and research and development, which is expected to create more than 1,000 full-time jobs and more than 12,000 jobs including construction.
• Bristol Myers Squibb announced a $40 billion investment over the next five years in its research, development, technology, and U.S.-based manufacturing operations.
• Eli Lilly and Company announced a $27 billion investment to more than double its domestic manufacturing capacity.
• United Arab Emirates-based ADQ and U.S.-based Energy Capital Partners announced a $25 billion investment in U.S. data centers and energy infrastructure.
• Novartis, a Swiss drugmaker, announced a $23 billion investment to build or expand ten manufacturing facilities across the U.S., which will create 4,000 new jobs.
• Hyundai announced a $21 billion U.S.-based investment — including $5.8 billion for a new steel plant in Louisiana, which will create nearly 1,500 jobs.
   
• Hyundai also secured an equity investment and agreement from Posco Holdings, South Korea’s top steel maker.
   
• United Arab Emirates-based DAMAC Properties announced a $20 billion investment in new U.S.-based data centers.
• France-based CMA CGM, a global shipping giant, announced a $20 billion investment in U.S. shipping and logistics, creating 10,000 new jobs.
• Sanofi announced it will invest at least $20 billion over the next five years in manufacturing and research and development.
• Venture Global LNG announced an $18 billion investment at its liquefied natural gas facility in Louisiana.
• Gilead Sciences announced an $11 billion boost to its planned U.S.-based manufacturing investment.
• AbbVie announced a $10 billion investment over the next ten years to support volume growth and add four new manufacturing plants to its network.
• Pratt Industries announced a $5 billion investment to create 5,000 new manufacturing jobs in Ohio, Michigan, Pennsylvania, and Arizona.
• GlobalWafers, a Taiwanese silicon wafer manufacturer, announced a $4 billion investment in its U.S.-based production.
• Thermo Fisher Scientific announced it will invest an additional $2 billion over the next four years to enhance and expand its U.S. manufacturing operations and strengthen its innovation efforts.
• Merck & Co. announced it will invest a total of $9 billion in the U.S. over the next several years after opening a new $1 billion North Carolina manufacturing facility — including in a new state-of-the-art biologics manufacturing plant in Delaware, which will create at least 500 new jobs.
• Clarios announced a $6 billion plan to expand its domestic manufacturing operations.
• Stellantis announced a $5 billion investment in its U.S. manufacturing network, including re-opening its Belvidere, Illinois, manufacturing plant.
• In addition to its overall investments, Amazon announced it is investing $4 billion in small towns across America, creating more than 100,000 new jobs and driving opportunities across the country.
• Regeneron Pharmaceuticals, a leader in biotechnology, announced a $3 billion agreement with Fujifilm Diosynth Biotechnologies to produce drugs at its North Carolina manufacturing facility.
• Kraft Heinz announced a $3 billion investment to upgrade its U.S. factories — its largest investment in its plants in decades.
• NorthMark Strategies, a multi-strategy investment firm, announced a $2.8 billion investment to build a supercomputing facility in South Carolina.
• Kimberly-Clark announced a $2 billion investment to expand its U.S. manufacturing operations, including a new advanced manufacturing facility in Warren, Ohio, an expansion of its Beech Island, South Carolina, facility, and other upgrades to its supply chain network.
• Chobani, a Greek yogurt giant, announced $1.7 billion to expand its U.S. operations.
   
• $1.2 billion to build its third U.S. dairy processing plant in New York, which is expected to create more than 1,000 new full-time jobs.
• $500 million to expand its Idaho manufacturing plant.
   
• Corning announced it is expanding its Michigan manufacturing facility investment to $1.5 billion, adding 400 new high-paying advanced manufacturing jobs for a total of 1,500 new jobs.
• Carrier announced an additional $1 billion investment in its U.S. manufacturing, innovation, and workforce expansion, which is expected to create 4,000 new jobs.
• GE Aerospace announced a $1 billion investment in manufacturing across 16 states — creating 5,000 new jobs.
• Anduril Industries announced a $1 billion investment for a new autonomous weapon system facility in Ohio.
• Amgen announced a $900 million investment in its Ohio-based manufacturing operation.
• Merck Animal Health announced an $895 million investment to expand their manufacturing operations in Kansas.
• Schneider Electric announced it will invest $700 million over the next four years in U.S. energy infrastructure.
• GE Vernova announced it will invest nearly $600 million in U.S. manufacturing over the next two years, which will create more than 1,500 new jobs.
• Abbott Laboratories announced a $500 million investment in its Illinois and Texas facilities.
• AIP Management, a European infrastructure investor, announced a $500 million investment to solar developer Silicon Ranch.
• London-based Diageo announced a $415 million investment in a new Alabama manufacturing facility.
• Lego announced a $366 million investment to build a new distribution center in Prince George County, Virginia.
• The Bel Group announced a $350 million investment to expand its U.S.-based production, including at its South Dakota, Idaho and Wisconsin facilities — which will create 250 new jobs.
• Dublin-based Eaton Corporation announced a $340 million investment in a new South Carolina-based manufacturing facility for its three-phase transformers.
• Anheuser-Busch announced a $300 million investment in its manufacturing facilities across the country.
• Germany-based Siemens announced a $285 million investment in U.S. manufacturing and AI data centers, which will create more than 900 new skilled manufacturing jobs.
• Clasen Quality Chocolate announced a $230 million investment to build a new production facility in Virginia, which will create 250 new jobs.
• Fiserv, Inc., a financial technology provider, announced a $175 million investment to open a new strategic fintech hub in Kansas, which is expected to create 2,000 new high-paying jobs.
• Paris Baguette announced a $160 million investment to construct a manufacturing plant in Texas.
• Siemens Healthineers announced a $150 million investment to expand production, including relocating manufacturing operations for its Varian company from Mexico to California. 
• TS Conductor announced a $134 million investment to build an advanced conductor manufacturing facility in South Carolina, which will create nearly 500 new jobs.
• Switzerland-based ABB announced a $120 million investment to expand production of its low-voltage electrification products in Tennessee and Mississippi.
• Saica Group, a Spain-based corrugated packaging maker, announced plans to build a $110 million new manufacturing facility in Anderson, Indiana.
• Hotpack, a Dubai-based maker of food packaging materials and related products, announced a $100 million investment to establish its first U.S. manufacturing facility in Edison, New Jersey.
• Charms, LLC, a subsidiary of candymaker Tootsie Roll Industries, announced a $97.7 million investment to expand its production plant and distribution center in Tennessee.
• Toyota Motor Corporation announced an $88 million investment to boost hybrid vehicle production at its West Virginia factory, securing employment for the 2,000 workers at the factory.
• AeroVironment, a defense contractor, announced a $42.3 million investment to build a new manufacturing facility in Utah.
• Paris-based Saint-Gobain announced a new $40 million NorPro manufacturing facility in Wheatfield, New York.
• India-based Sygene International announced a $36.5 million acquisition of a Baltimore biologics manufacturing facility.
• Asahi Group Holdings, one of the largest Japanese beverage makers, announced a $35 million investment to boost production at its Wisconsin plant.
• Cyclic Materials, a Canadian advanced recycling company for rare earth elements, announced a $20 million investment in its first U.S.-based commercial facility, located in Mesa, Arizona.
• Guardian Bikes announced a $19 million investment to build the first U.S.-based large-scale bicycle frame manufacturing operation in Indiana.
• Amsterdam-based AMG Critical Minerals announced a $15 million investment to build a chrome manufacturing facility in Pennsylvania.
• NOVONIX Limited, an Australia-based battery technology company, announced a $4.6 million investment to build a synthetic graphite manufacturing facility in Tennessee.
• LGM Pharma announced a $6 million investment to expand its manufacturing facility in Rosenberg, Texas.
• ViDARR, a defense optical equipment manufacturer, announced a $2.69 million investment to open a new facility in Virginia.

That doesn’t even include the U.S. investments pledged by foreign countries:

• United Arab Emirates committed to investing $1.4 trillion in the U.S. over the next decade.
• Qatar committed to generating $1.2 trillion in an economic exchange between the two countries.
• Japan announced a $1 trillion investment in the U.S.
• Saudi Arabia committed investing $600 billion in the U.S. over the next four years.
• Taiwan announced a pledge to boost its U.S.-based investment.

Last updated on May 16, 2025

]

President Trump’s
Bold Trade Action Draws Praise

The White House

April 2, 2025

Today, President Donald J. Trump made clear to the world that the days of economic surrender are over. After being sold out by career politicians for generations, President Trump is enacting fair trade policies that will restore our workforce, rebuild our economy, and finally put America First.

The move drew immediate praise:

Coalition for a Prosperous America Chairman Zach Mottl: “A permanent, universal baseline tariff resets the global trade environment and finally addresses the destructive legacy of decades of misguided free-trade policies. President Trump’s decision to implement a baseline tariff is a game-changing shift that prioritizes American manufacturing, protects working-class jobs, and safeguards our economic security from adversaries like China. This is exactly the type of bold action America needs to restore its industrial leadership. Today’s action will deliver lasting benefits to the U.S. economy and working-class Americans, cementing President Trump’s legacy as one that ushered in a new Golden Age of American industrialization and prosperity.”

National Cattlemen’s Beef Association SVP of Government Affairs Ethan Lane: “For too long, America’s family farmers and ranchers have been mistreated by certain trading partners around the world. President Trump is taking action to address numerous trade barriers that prevent consumers overseas from enjoying high-quality, wholesome American beef. NCBA will continue engaging with the White House to ensure fair treatment for America’s cattle producers around the world and optimize opportunities for exports abroad.”

Steel Manufacturers Association President Philip K. Bell: “President Trump is a champion of the domestic steel industry, and his America First Trade Policy is designed to fight the unfair trade that has harmed American workers and weakened manufacturing in the United States. The recently reinvigorated 232 steel tariffs have already started creating American jobs and bolstering the domestic steel industry. President Trump is working to turn America into a manufacturing powerhouse and the steel tariffs are driving that movement. President Trump’s initial 232 steel tariffs and the historic tax cuts led to investments of nearly $20 billion by steel manufacturers in the United States. Since the revised tariffs took effect, Hyundai Steel announced a $5.8 billion steel mill in Louisiana, demonstrating that the tariffs are working to bring more steel investments and production to the United States. The domestic steel market is stronger when other nations are forced to compete on a level playing field. On a level playing field, American workers can outcompete anyone. We look forward to continuing working with President Trump and his administration to ensure a level playing field for Americans and a robust domestic steel industry that strengthens our national, economic and energy security.”

Alliance for American Manufacturing President Scott Paul: “Today’s trade action prioritizes domestic manufacturers and America’s workers. These hardworking men and women have seen unfair trade cut the ground from beneath their feet for decades. They deserve a fighting chance. Our workers can out-compete anyone in the world, but they need a level playing field to do it. This trade reset is a necessary step in the right direction.”

National Electrical Contractors Association CEO David Long: “President Trump has consistently prioritized policies that put the electrical industry as a priority, and we recognize his commitment to strengthening our nation’s economy. As these new tariffs take effect, we look forward to working with the Administration to ensure that electrical contractors and the entire electrical industry can continue powering America efficiently while navigating potential cost and supply chain challenges.”

Bienvenido Empresarios: “As an organization committed to empowering Hispanic Americans and strengthening our nation’s future, Bienvenido supports policies that build a more resilient American economy, safeguard our communities, and reassert U.S. leadership on the global stage. President Trump’s emphasis on using economic leverage — including tariffs — reflects a broader strategy to counter China, confront the deadly fentanyl crisis, and bring critical industries back home. Now is a time for tough, decisive action when national security and American livelihoods are at stake. Our hope is that these measures lead to stronger enforcement, fairer trade, and long-term prosperity for all Americans.”

America First Policy Institute: “Tariffs worked then—and they’ll work again. Under President Trump, tariffs brought back jobs, lowered inflation, and strengthened national security. It’s not just economic policy—it’s America First in action.”

Speaker Mike Johnson: “President Trump is sending a clear message with Liberation Day: America will not be exploited by unfair trade practices anymore. These tariffs restore fair and reciprocal trade and level the playing field for American workers and innovators. The President understands that FREE trade ONLY works when it’s FAIR!”

Gov. Jeff Landry: “Pro Jobs. Pro Business. Pro America.”

Senate Majority Whip John Barrasso: “President Trump is acting boldly to put America first. America needs fair and free trade. We can’t allow other countries to keep abusing our workers and job creators. It’s time we had a level playing field. I applaud President Trump’s 100% commitment to Made in America.”

Sen. Jim Banks: “The decision by President Trump today to impose reciprocal tariffs will be so good for Indiana. … Those are the manufacturing jobs that President Trump is bringing back from overseas.”

Sen. Bill Cassidy: “The president’s trade agenda can pave the way for stronger trade deals, fairer rules, and real results. I am excited to work with President Trump to make it happen. Louisiana’s workers and families deserve nothing less.”

Sen. Roger Marshall: “President Donald Trump is fighting for long-term solutions to put America’s farmers and ranchers first.”

Sen. Ashley Moody: “It’s liberation day in America! Today, @POTUS sent a message to the world that the era of America being taken advantage of is over.”

Sen. Markwayne Mullin: “President Trump is going to charge foreign countries roughly half of what they *already* charge us to do business. Literally who can argue with this?”

Sen. Pete Ricketts: “President Trump is delivering on his campaign promises to level the playing field and stand up for the American people. Reciprocal tariffs will ensure equal treatment for American businesses. @POTUS is working to reshore jobs lost overseas and secure our supply chains. He is working to open new markets for our nation’s agriculture products. He is demonstrating to foreign adversaries like China that we will no longer be taken advantage of.”

Sen. Rick Scott: “The days of the U.S. being taken advantage of by other countries are OVER! Pres. Trump is making it clear that he will ALWAYS put American jobs, manufacturing and our economy first. As Americans, let’s stand with him and support one another by buying products MADE IN AMERICA.”

Sen. Eric Schmitt: “President Trump is bringing America back. We won’t be ripped off by other countries anymore. We’re bringing back manufacturing, unleashing energy production, and paving the way for prosperity.”

Sen. Tommy Tuberville: “For too long, other countries have ripped us off with bad trade deals – resulting in American jobs and manufacturing moving overseas. But change is coming. The Golden Age of America’s economy is here. Happy Liberation Day.”

House Majority Leader Steve Scalise: “The United States and American workers will no longer be ripped off by other countries with unfair trade practices. Thank you President Trump for putting America’s workers and innovators first with reciprocal tariffs that level the playing field and make trade FAIR.”

House Majority Whip Tom Emmer: “For too long, foreign countries have taken advantage of us at the expense of American workers. President @realDonaldTrump says NO MORE.”

House Republican Conference Chairwoman Lisa McClain: “Tariffs work! @POTUS has proven tariffs are an effective tool in achieving economic and strategic objectives. The President’s long-term strategy will pay off.”

Rep. Elise Stefanik: “I strongly support President Trump’s America First economic policies to strengthen American manufacturing and create millions of American jobs. For too long, Americans have suffered under unfair trade practices putting America Last. We will not allow other countries to take advantage of us and we must put America and the American worker first.”

Rep. Jason Smith: “America shouldn’t reward countries that discriminate against American workers and manufacturers. On Liberation Day, President Trump is correcting this and demanding fair treatment for American producers.”

Rep. Mark Alford: “The days of the United States being taken advantage of are OVER. Republicans are putting American workers FIRST.”

Rep. Jodey Arrington: “For too long, our leaders have allowed other nations to rip us off through numerous unfair trade practices resulting in suppressed wages, lost opportunities, and unrealized economic growth. Just as he did in his first term, President Trump is fighting to ensure an even playing field for our manufacturers, farmers, and workers so we can unleash American prosperity and Make America Great Again.”

Rep. Brian Babin: “Trump’s tariffs aren’t starting a trade war—they’re ending one. For decades, other countries ripped off American workers with unfair tariffs and barriers. Now, we’re finally fighting back.”

Rep. Andy Biggs: “Past administrations have allowed the United States to be ripped off by allies and adversaries alike. President Trump said “NO MORE!” The Art of the Deal.”

Rep. Vern Buchanan: “For too long, unfair trade practices devastated America’s manufacturing base and stole millions of blue-collar jobs. It’s time to level the playing field and bring those jobs back. @POTUS is fighting for American workers.”

Rep. Michael Cloud: “America-First means putting the American people first. We will no longer be taken advantage of as a nation and people.”

Rep. Andrew Clyde: “For far too long, the U.S. has been ripped off by countries across the globe with unfair trade practices. Now, we’re finally leveling the playing field. THANK YOU, President Trump, for putting American workers and manufacturing FIRST.”

Rep. Mike Collins: “This is fair. Whether it’s our military or economy, other countries have taken advantage of the U.S. for far too long. That time is over.”

Rep. Chuck Edwards: “Many countries are taking advantage of the United States by imposing tariffs against us while we don’t have reciprocal tariffs against them. @POTUS has used tariffs to produce successful trade deals for us in his first term, and I support his plan to use them again to create a more level playing field and secure fairer trade deals for America. The quicker other countries agree to fairer trade deals, the quicker the tariffs can end.”

Rep. Scott Franklin:“For years the US handcuffed itself and played nice while other countries imposed massive tariffs and took advantage of us. We’re done putting America last. @POTUS is leveling the playing field, ending trade imbalances and prioritizing American workers and manufacturing again!”

Rep. Russell Fry: “HAPPY LIBERATION DAY. Thanks to @POTUS, America is DONE being taken advantage of. A new era has begun.”

Rep. Lance Gooden: “For decades, Washington allowed Texans to be ripped off by foreign countries. Those days are now over. @POTUS is committed to making America wealthy again!”

Rep. Marjorie Taylor Greene: “If you want to do business in America, you need to play by our rules. For too long, American businesses, big and small, have been ripped off by bad trade deals and unfair competition. President Trump is putting a stop to it. He’s standing up for our workers, our companies, and our consumers.”

Rep. Abe Hamadeh: “The America First Republican party is the party of the working class, the forgotten men and women. On this Liberation Day, we further our commitment to them, that we will reshore our manufacturing, restore fair trade, and rebuild the greatest economy in the world.”

Rep. Pat Harrigan:“If you want access to the most powerful economy in the world, treat us fairly. If not, don’t expect a free ride. That’s real leadership and @POTUS is delivering it!”

Rep. Andy Harris: “President Trump’s reciprocal tariffs will put the American worker first and bring fairness back to international trade. America is being respected again.”

Rep. Diana Harshbarger: “President Trump is bringing back the American Dream. Our taxpayers have been ripped off by foreign countries for far too long, but those days are over. President Trump is right to impose these reciprocal tariffs.”

Rep. Clay Higgins: “@POTUS’ trade agenda puts American industry and America first. I support the President’s action to protect our domestic producers.”

Rep. Wesley Hunt: “Today, President Trump empowered the American middle class.  His policies on tariffs will bring automotive manufacturing back to America.”

Rep. Nicole Malliotakis: “Since President Trump has been elected, we’ve attracted $5 trillion in private investment, foreign & domestic companies have announced Made in USA manufacturing, countries have reduced tariffs or changed foreign policies. President Trump is sticking up for American workers & farmers, repatriating our supply chain and protecting our national security.”

Rep. Addison McDowell: “My district was hit hard over the years by unfair trade deals. Finally, we have a President who wants to put the American worker FIRST.”

Rep. Mary Miller: “America will no longer be taken advantage of! This is how you put America First.”

Rep. Riley Moore: “For decades, foreign countries have enjoyed free access to the greatest consumer marketplace on the face of the planet, all while still charging our domestic producers hefty duties or imposing significant barriers to access their markets. Today that ends. President Trump is the only president in my lifetime to acknowledge how unfair trade has gutted the heartland and shipped countless jobs overseas. By finally reciprocating in-kind, we’ll force foreign competitors to the negotiating table, lower trade barriers, and ultimately create real free and fair trade across the board. I’m confident this move will boost our domestic manufacturing industry and fuel demand for American products across the globe.”

Rep. Tim Moore: “President Trump is leveling the playing field for American workers and bringing back MADE IN AMERICA!”

Rep. Troy Nehls: “President Trump’s reciprocal tariffs make it clear that our country will not be ripped off anymore. We are bringing back American manufacturing and putting America First.”

Rep. Ralph Norman: “Happy LIBERATION Day … ✅Protect the American worker ✅Strengthen manufacturing ✅Reduce unfair trade practices … Our economy will be competitive again!!”

Rep. Andy Ogles: “He’s resetting the negotiating table. He’s resetting the deck here to say, ‘You know what? For too long, you’ve taken advantage of our free market and you’ve literally leached jobs away from the American people … Let’s have a serious conversation and let’s do something that’s fair and mutually beneficial for both sides.’”

Rep. Guy Reschenthaler: “I fully support President Trump’s critical efforts to right this generational wrong, bring manufacturing jobs home, and rejuvenate American working families. Made in America is back.”

Rep. John Rutherford: “Tariffs help bring American jobs back home, incentivize buying American, AND put pressure on Canada and Mexico to stop the flow of fentanyl and illegal immigrants from their countries into ours. Even the Biden Admin kept or increased tariffs that President Trump imposed during his first presidency. Under Trump, inflation stayed around 2% and our GDP grew to 3%. Smart tariffs are a long-term investment in the American economy that are worth the short-term cost.”

Rep. Greg Steube: “What many fail to realize: Trump’s reciprocal tariffs are a long-overdue response to years of unfair trade policies against America. For decades, America has been ripped off by other countries who have repeatedly slapped tariffs on our goods, blocked our products, and flooded our markets with theirs. The numbers don’t lie–the rest of the world has profited at the expense of American workers and businesses. President Trump is finally putting America First by taking bold, necessary actions that past leaders wouldn’t take.”

Rep. Marlin Stutzman: “If Australia doesn’t want our beef – WE DON’T WANT THEIRS! Thank you @POTUS for opening the door of fair treatment for America’s Cattlemen”

Rep. Tom Tiffany: “Gone are the days of America being taken advantage of by foreign countries. The American worker comes FIRST.”

Rep. William Timmons: “President Trump’s tariffs are a necessary move to protect American workers and rebuild our economy. We are finally breaking free from decades of unfair trade deals that gutted our industries. These tariffs will bring jobs back to our districts, strengthen manufacturing, and ensure our children inherit a country that is not just a consumer, but a producer. Thank you, @POTUS.”

Rep. Beth Van Duyne: “For far too long, the United States has been taken advantage of by our foreign trade partners. The American people re-elected President Trump to bring back truly fair trade with other countries. Reciprocal tariffs are a first step to have a level playing field for American products and to start bringing back manufacturing to our country!”

Rep. Daniel Webster: “President @realDonaldTrump is delivering on his mandate to restore America’s economic strength. For too long, unfair trade deals have hollowed out our factories and shipped American jobs overseas. By standing up to bad actors like China and Venezuela and enforcing fair trade, President Trump is defending American industries and putting American workers first.”

Rep. Tony Wied: “President Trump has made it clear with these reciprocal tariffs that we will no longer allow other countries to take advantage of us. His goal is simple: to bring jobs and manufacturing back to our country and open up foreign markets to American products. If companies want to avoid these tariffs, they will do business in the United States. I applaud the President for taking a stand against years of unfair trade practices and making sure we put American workers and consumers first. It’s time our foreign trading partners finally live up to their end of the bargain.”

Rep. Roger Williams: “For too long, America Last policies have put the U.S. auto industry at a disadvantage. As a car dealer and small business owner, I support @POTUS’ Executive Order to increase competition, boost revenue, and bring back American jobs.”

U.S. Trade Representative Ambassador Jamieson Greer: “Today, President Trump is taking urgent action to protect the national security and economy of the United States. The current lack of trade reciprocity, demonstrated by our chronic trade deficit, has weakened our economic and national security. After only 72 days in office, President Trump has prioritized swift action to bring reciprocity to our trade relations and reduce the trade deficit by leveling the playing field for American workers and manufacturers, reshoring American jobs, expanding our domestic manufacturing base, and ensuring our defense-industrial base is not dependent on foreign adversaries—all leading to stronger economic and national security.”

Secretary of Commerce Howard Lutnick: “Today, the world starts taking us seriously. Our workforce will finally be treated fairly.”

Secretary of the Treasury Scott Bessent: “President Trump signed the Declaration of Economic Independence for the American people. For decades, the trade status quo has allowed countries to leverage tariffs and unfair trade practices to get ahead at the expense of hardworking Americans. The President’s historic actions will level the playing field for American workers and usher in a new age of economic strength.”

Secretary of Agriculture Brooke Rollins: “FARMERS COME FIRST — @POTUS is leveling the playing field, ensuring American farmers and ranchers can compete globally again!”

Secretary of State Marco Rubio: “Thank you, @POTUS! ‘Made in America’ is not just a tagline — it’s an economic and national security priority.”

Secretary of Homeland Security Kristi Noem: “For too long, America has been targeted by unfair trade practices that made our supply chain dependent on foreign adversaries, eroded our industrial base, and hurt American workers. This has gravely impacted our national security. President Trump’s strong action will help make America safe again. @DHS, primarily through @CBP, is ready to collect these new tariffs and put an end to unfair trade practices. Thank you President @realDonaldTrump for putting America FIRST.”

Secretary of Labor Lori Chavez-DeRemer: “Promises made, promises kept”

Secretary of Energy Chris Wright: “President Trump is a businessman; he’s a negotiator. The result of that has been and will continue to be improvements for the American people. We are in the midst of a negotiation, and he is fighting every day to make the cost-of-living conditions better for Americans.”

Secretary of Education Linda McMahon: “At the White House this afternoon, we celebrated Liberation Day — setting our economy on the path of future prosperity for our children. Business owners, workers, and taxpayers have been waiting for strong economic leadership. @POTUS’ actions today prove we are done being taken advantage of in international trade.”

Secretary of the Interior Doug Burgum: “President Trump’s Liberation Day reciprocity plan is commonsense. If you tariff us, we’ll tariff you. This will strengthen our economy and make America wealthy again!”

Secretary of Transportation Sean Duffy: “Today is the day we will liberate ourselves from unfair trade practices and outdated ways of thinking. Tariffs are an important tool in the President’s toolbox to stop foreign countries from ripping us off, protect America’s workers, and restore U.S. manufacturing. I stand with @POTUS as he finally levels the playing field. Happy Liberation Day!”

Secretary of Housing and Urban Development Scott Turner: “For four years, Americans couldn’t afford groceries, let alone a house. This Liberation Day, @POTUS is bringing manufacturing and jobs back. President Trump is making the American Dream achievable again!”

Environmental Protection Agency Administrator Lee Zeldin: “Massive announcement by @POTUS today restoring U.S. dominance, cementing his America First vision, and Powering the Great American Comeback.”

Small Business Administration Administrator Kelly Loeffler: “Small businesses will no longer be crushed by foreign governments and unfair trade deals. Instead, we will put American industry, workers, and strength FIRST. Thank you @POTUS for bringing back Made in America!”

National Security Advisor Mike Waltz: “Economic security is national security. Thank you President Trump for putting America first.”

--------------------------

On April 2, a day Trump nicknamed "Liberation Day", Trump announced a 10% universal import duty on all goods brought into the U.S. and even higher rates for 60 nations. The 10% baseline tariff takes effect on April 5 while the additional rates begin April 9.  On April 3, a 25% tariff on all imported automobiles went into effect, with auto parts expected to follow.  Canada, China, and the European Union have announced counter-tariffs, while other countries began proactive negotiations to prevent additional trade disputes.

Regulating Imports with a Reciprocal Tariff to
Rectify Trade Practices that Contribute to
Large and Persistent Annual United States
Goods Trade Deficits

April 2, 2025

By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.)(IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.)(NEA), section 604 of the Trade Act of 1974, as amended (19 U.S.C. 2483), and section 301 of title 3, United States Code, 

I, DONALD J. TRUMP, President of the United States of America, find that underlying conditions, including a lack of reciprocity in our bilateral trade relationships, disparate tariff rates and non-tariff barriers, and U.S. trading partners’ economic policies that suppress domestic wages and consumption, as indicated by large and persistent annual U.S. goods trade deficits, constitute an unusual and extraordinary threat to the national security and economy of the United States.  That threat has its source in whole or substantial part outside the United States in the domestic economic policies of key trading partners and structural imbalances in the global trading system.  I hereby declare a national emergency with respect to this threat.

On January 20, 2025, I signed the America First Trade Policy Presidential Memorandum directing my Administration to investigate the causes of our country’s large and persistent annual trade deficits in goods, including the economic and national security implications and risks resulting from such deficits, and to undertake a review of, and identify, any unfair trade practices by other countries.  On February 13, 2025, I signed a Presidential Memorandum entitled “Reciprocal Trade and Tariffs,” that directed further review of our trading partners’ non-reciprocal trading practices, and noted the relationship between non-reciprocal practices and the trade deficit.  On April 1, 2025, I received the final results of those investigations, and I am taking action today based on those results.  

Large and persistent annual U.S. goods trade deficits have led to the hollowing out of our manufacturing base; inhibited our ability to scale advanced domestic manufacturing capacity; undermined critical supply chains; and rendered our defense-industrial base dependent on foreign adversaries.  Large and persistent annual U.S. goods trade deficits are caused in substantial part by a lack of reciprocity in our bilateral trade relationships.  This situation is evidenced by disparate tariff rates and non-tariff barriers that make it harder for U.S. manufacturers to sell their products in foreign markets.  It is also evidenced by the economic policies of key U.S. trading partners insofar as they suppress domestic wages and consumption, and thereby demand for U.S. exports, while artificially increasing the competitiveness of their goods in global markets.  These conditions have given rise to the national emergency that this order is intended to abate and resolve.

For decades starting in 1934, U.S. trade policy has been organized around the principle of reciprocity.  The Congress directed the President to secure reduced reciprocal tariff rates from key trading partners first through bilateral trade agreements and later under the auspices of the global trading system.  Between 1934 and 1945, the executive branch negotiated and signed 32 bilateral reciprocal trade agreements designed to lower tariff rates on a reciprocal basis.  After 1947 through 1994, participating countries engaged in eight rounds of negotiation, which resulted in the General Agreements on Tariffs and Trade (GATT) and seven subsequent tariff reduction rounds. 

However, despite a commitment to the principle of reciprocity, the trading relationship between the United States and its trading partners has become highly unbalanced, particularly in recent years.  The post-war international economic system was based upon three incorrect assumptions:  first, that if the United States led the world in liberalizing tariff and non-tariff barriers the rest of the world would follow; second, that such liberalization would ultimately result in more economic convergence and increased domestic consumption among U.S. trading partners converging towards the share in the United States; and third, that as a result, the United States would not accrue large and persistent goods trade deficits. 

This framework set in motion events, agreements, and commitments that did not result in reciprocity or generally increase domestic consumption in foreign economies relative to domestic consumption in the United States.  Those events, in turn, created large and persistent annual U.S. goods trade deficits as a feature of the global trading system. 

Put simply, while World Trade Organization (WTO) Members agreed to bind their tariff rates on a most-favored-nation (MFN) basis, and thereby provide their best tariff rates to all WTO Members, they did not agree to bind their tariff rates at similarly low levels or to apply tariff rates on a reciprocal basis.  Consequently, according to the WTO, the United States has among the lowest simple average MFN tariff rates in the world at 3.3 percent, while many of our key trading partners like Brazil (11.2 percent), China (7.5 percent), the European Union (EU) (5 percent), India (17 percent), and Vietnam (9.4 percent) have simple average MFN tariff rates that are significantly higher.  

Moreover, these average MFN tariff rates conceal much larger discrepancies across economies in tariff rates applied to particular products.  For example, the United States imposes a 2.5 percent tariff on passenger vehicle imports (with internal combustion engines), while the European Union (10 percent), India (70 percent), and China (15 percent) impose much higher duties on the same product.  For network switches and routers, the United States imposes a 0 percent tariff, but for similar products, India (10 percent) levies a higher rate.  Brazil (18 percent) and Indonesia (30 percent) impose a higher tariff on ethanol than does the United States (2.5 percent).  For rice in the husk, the U.S. MFN tariff is 2.7 percent (ad valorem equivalent), while India (80 percent), Malaysia (40 percent), and Turkey (an average of 31 percent) impose higher rates.  Apples enter the United States duty-free, but not so in Turkey (60.3 percent) and India (50 percent).

Similarly, non-tariff barriers also deprive U.S. manufacturers of reciprocal access to markets around the world.  The 2025 National Trade Estimate Report on Foreign Trade Barriers (NTE) details a great number of non-tariff barriers to U.S. exports around the world on a trading-partner by trading-partner basis.  These barriers include import barriers and licensing restrictions; customs barriers and shortcomings in trade facilitation; technical barriers to trade (e.g., unnecessarily trade restrictive standards, conformity assessment procedures, or technical regulations); sanitary and phytosanitary measures that unnecessarily restrict trade without furthering safety objectives; inadequate patent, copyright, trade secret, and trademark regimes and inadequate enforcement of intellectual property rights; discriminatory licensing requirements or regulatory standards; barriers to cross-border data flows and discriminatory practices affecting trade in digital products; investment barriers; subsidies; anticompetitive practices; discrimination in favor of domestic state-owned enterprises, and failures by governments in protecting labor and environment standards; bribery; and corruption.

Moreover, non-tariff barriers include the domestic economic policies and practices of our trading partners, including currency practices and value-added taxes, and their associated market distortions, that suppress domestic consumption and boost exports to the United States.  This lack of reciprocity is apparent in the fact that the share of consumption to Gross Domestic Product (GDP) in the United States is about 68 percent, but it is much lower in others like Ireland (27 percent), Singapore (31 percent), China (39 percent), South Korea (49 percent), and Germany (50 percent).

At the same time, efforts by the United States to address these imbalances have stalled.  Trading partners have repeatedly blocked multilateral and plurilateral solutions, including in the context of new rounds of tariff negotiations and efforts to discipline non-tariff barriers.  At the same time, with the U.S. economy disproportionately open to imports, U.S. trading partners have had few incentives to provide reciprocal treatment to U.S. exports in the context of bilateral trade negotiations.

These structural asymmetries have driven the large and persistent annual U.S. goods trade deficit.  Even for countries with which the United States may enjoy an occasional bilateral trade surplus, the accumulation of tariff and non-tariff barriers on U.S. exports may make that surplus smaller than it would have been without such barriers.  Permitting these asymmetries to continue is not sustainable in today’s economic and geopolitical environment because of the effect they have on U.S. domestic production.  A nation’s ability to produce domestically is the bedrock of its national and economic security.

Both my first Administration in 2017, and the Biden Administration in 2022, recognized that increasing domestic manufacturing is critical to U.S. national security.  According to 2023 United Nations data, U.S. manufacturing output as a share of global manufacturing output was 17.4 percent, down from a peak in 2001 of 28.4 percent. 

Over time, the persistent decline in U.S. manufacturing output has reduced U.S. manufacturing capacity.  The need to maintain robust and resilient domestic manufacturing capacity is particularly acute in certain advanced industrial sectors like automobiles, shipbuilding, pharmaceuticals, technology products, machine tools, and basic and fabricated metals, because once competitors gain sufficient global market share in these sectors, U.S. production could be permanently weakened.  It is also critical to scale manufacturing capacity in the defense-industrial sector so that we can manufacture the defense materiel and equipment necessary to protect American interests at home and abroad.  

In fact, because the United States has supplied so much military equipment to other countries, U.S. stockpiles of military goods are too low to be compatible with U.S. national defense interests.  Furthermore, U.S. defense companies must develop new, advanced manufacturing technologies across a range of critical sectors including bio-manufacturing, batteries, and microelectronics.  If the United States wishes to maintain an effective security umbrella to defend its citizens and homeland, as well as for its allies and partners, it needs to have a large upstream manufacturing and goods-producing ecosystem to manufacture these products without undue reliance on imports for key inputs. 

Increased reliance on foreign producers for goods also has compromised U.S. economic security by rendering U.S. supply chains vulnerable to geopolitical disruption and supply shocks.  In recent years, the vulnerability of the U.S. economy in this respect was exposed both during the COVID-19 pandemic, when Americans had difficulty accessing essential products, as well as when the Houthi rebels later began attacking cargo ships in the Middle East. 

The decline of U.S. manufacturing capacity threatens the U.S. economy in other ways, including through the loss of manufacturing jobs.  From 1997 to 2024, the United States lost around 5 million manufacturing jobs and experienced one of the largest drops in manufacturing employment in history.  Furthermore, many manufacturing job losses were concentrated in specific geographical areas.  In these areas, the loss of manufacturing jobs contributed to the decline in rates of family formation and to the rise of other social trends, like the abuse of opioids, that have imposed profound costs on the U.S. economy.

The future of American competitiveness depends on reversing these trends.  Today, manufacturing represents just 11 percent of U.S. gross domestic product, yet it accounts for 35 percent of American productivity growth and 60 percent of our exports.  Importantly, U.S. manufacturing is the main engine of innovation in the United States, responsible for 55 percent of all patents and 70 percent of all research and development (R&D) spending.  The fact that R&D expenditures by U.S. multinational enterprises in China grew at an average rate of 13.6 percent a year between 2003 and 2017, while their R&D expenditures in the United States grew by an average of just 5 percent per year during the same time period, is evidence of the strong link between manufacturing and innovation.  Furthermore, every manufacturing job spurs 7 to 12 new jobs in other related industries, helping to build and sustain our economy.

Just as a nation that does not produce manufactured products cannot maintain the industrial base it needs for national security, neither can a nation long survive if it cannot produce its own food.  Presidential Policy Directive 21 of February 12, 2013 (Critical Infrastructure Security and Resilience), designates food and agriculture as a “critical infrastructure sector” because it is one of the sectors considered “so vital to the United States that [its] incapacity or destruction . . . would have a debilitating impact on security, national economic security, national public health or safety, or any combination of those matters.”  Furthermore, when I left office, the United States had a trade surplus in agricultural products, but today, that surplus has vanished.  Eviscerated by a slew of new non-tariff barriers imposed by our trading partners, it has been replaced by a projected $49 billion annual agricultural trade deficit. For these reasons, I hereby declare and order:

Section 1.  National Emergency.  As President of the United States, my highest duty is ensuring the national and economic security of the country and its citizens.  

I have declared a national emergency arising from conditions reflected in large and persistent annual U.S. goods trade deficits, which have grown by over 40 percent in the past 5 years alone, reaching $1.2 trillion in 2024.  This trade deficit reflects asymmetries in trade relationships that have contributed to the atrophy of domestic production capacity, especially that of the U.S. manufacturing and defense-industrial base.  These asymmetries also impact U.S. producers’ ability to export and, consequentially, their incentive to produce. 
Specifically, such asymmetry includes not only non-reciprocal differences in tariff rates among foreign trading partners, but also extensive use of non-tariff barriers by foreign trading partners, which reduce the competitiveness of U.S. exports while artificially enhancing the competitiveness of their own goods.  These non-tariff barriers include technical barriers to trade; non-scientific sanitary and phytosanitary rules; inadequate intellectual property protections; suppressed domestic consumption (e.g., wage suppression); weak labor, environmental, and other regulatory standards and protections; and corruption.  These non-tariff barriers give rise to significant imbalances even when the United States and a trading partner have comparable tariff rates. 

The cumulative effect of these imbalances has been the transfer of resources from domestic producers to foreign firms, reducing opportunities for domestic manufacturers to expand and, in turn, leading to lost manufacturing jobs, diminished manufacturing capacity, and an atrophied industrial base, including in the defense-industrial sector.  At the same time, foreign firms are better positioned to scale production, reinvest in innovation, and compete in the global economy, to the detriment of U.S. economic and national security.  
The absence of sufficient domestic manufacturing capacity in certain critical and advanced industrial sectors — another outcome of the large and persistent annual U.S. goods trade deficits — also compromises U.S. economic and national security by rendering the U.S. economy less resilient to supply chain disruption.  Finally, the large, persistent annual U.S. goods trade deficits, and the concomitant loss of industrial capacity, have compromised military readiness; this vulnerability can only be redressed through swift corrective action to rebalance the flow of imports into the United States.  Such impact upon military readiness and our national security posture is especially acute with the recent rise in armed conflicts abroad.  I call upon the public and private sector to make the efforts necessary to strengthen the international economic position of the United States.  

Sec. 2.  Reciprocal Tariff Policy.  It is the policy of the United States to rebalance global trade flows by imposing an additional ad valorem duty on all imports from all trading partners except as otherwise provided herein.  The additional ad valorem duty on all imports from all trading partners shall start at 10 percent and shortly thereafter, the additional ad valorem duty shall increase for trading partners enumerated in Annex I to this order at the rates set forth in Annex I to this order.  These additional ad valorem duties shall apply until such time as I determine that the underlying conditions described above are satisfied, resolved, or mitigated.   

Sec. 3.  Implementation.  (a)  Except as otherwise provided in this order, all articles imported into the customs territory of the United States shall be, consistent with law, subject to an additional ad valorem rate of duty of 10 percent.  Such rates of duty shall apply with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on April 5, 2025, except that goods loaded onto a vessel at the port of loading and in transit on the final mode of transit before 12:01 a.m. eastern daylight time on April 5, 2025, and entered for consumption or withdrawn from warehouse for consumption after 12:01 a.m. eastern daylight time on April 5, 2025, shall not be subject to such additional duty.  

Furthermore, except as otherwise provided in this order, at 12:01 a.m. eastern daylight time on April 9, 2025, all articles from trading partners enumerated in Annex I to this order imported into the customs territory of the United States shall be, consistent with law, subject to the country-specific ad valorem rates of duty specified in Annex I to this order.  Such rates of duty shall apply with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on April 9, 2025, except that goods loaded onto a vessel at the port of loading and in transit on the final mode of transit before 12:01 a.m. eastern daylight time on April 9, 2025, and entered for consumption or withdrawn from warehouse for consumption after 12:01 a.m. eastern daylight time on April 9, 2025, shall not be subject to these country-specific ad valorem rates of duty set forth in Annex I to this order.  These country-specific ad valorem rates of duty shall apply to all articles imported pursuant to the terms of all existing U.S. trade agreements, except as provided below. 

(b)  The following goods as set forth in Annex II to this order, consistent with law, shall not be subject to the ad valorem rates of duty under this order:  (i) all articles that are encompassed by 50 U.S.C. 1702(b); (ii) all articles and derivatives of steel and aluminum subject to the duties imposed pursuant to section 232 of the Trade Expansion Act of 1962 and proclaimed in Proclamation 9704 of March 8, 2018 (Adjusting Imports of Aluminum Into the United States), as amended, Proclamation 9705 of March 8, 2018 (Adjusting Imports of Steel Into the United States), as amended, and Proclamation 9980 of January 24, 2020 (Adjusting Imports of Derivative Aluminum Articles and Derivative Steel Articles Into the United States), as amended, Proclamation 10895 of February 10, 2025 (Adjusting Imports of Aluminum Into the United States), and Proclamation 10896 of February 10, 2025 (Adjusting Imports of Steel into the United States); (iii) all automobiles and automotive parts subject to the additional duties imposed pursuant to section 232 of the Trade Expansion Act of 1962, as amended, and proclaimed in Proclamation 10908 of March 26, 2025 (Adjusting Imports of Automobiles and Automobile Parts Into the United States); (iv) other products enumerated in Annex II to this order, including copper, pharmaceuticals, semiconductors, lumber articles, certain critical minerals, and energy and energy products; (v) all articles from a trading partner subject to the rates set forth in Column 2 of the Harmonized Tariff Schedule of the United States (HTSUS); and (vi) all articles that may become subject to duties pursuant to future actions under section 232 of the Trade Expansion Act of 1962.

(c)  The rates of duty established by this order are in addition to any other duties, fees, taxes, exactions, or charges applicable to such imported articles, except as provided in subsections (d) and (e) of this section below. 

(d)  With respect to articles from Canada, I have imposed additional duties on certain goods to address a national emergency resulting from the flow of illicit drugs across our northern border pursuant to Executive Order 14193 of February 1, 2025 (Imposing Duties To Address the Flow of Illicit Drugs Across Our Northern Border), as amended by Executive Order 14197 of February 3, 2025 (Progress on the Situation at Our Northern Border), and Executive Order 14231 of March 2, 2025 (Amendment to Duties To Address the Flow of Illicit Drugs Across Our Northern Border).  With respect to articles from Mexico, I have imposed additional duties on certain goods to address a national emergency resulting from the flow of illicit drugs and illegal migration across our southern border pursuant to Executive Order 14194 of February 1, 2025 (Imposing Duties To Address the Situation at Our Southern Border), as amended by Executive Order 14198 of February 3, 2025 (Progress on the Situation at Our Southern Border), and Executive Order 14227 of March 2, 2025 (Amendment to Duties To Address the Situation at Our Southern Border).  As a result of these border emergency tariff actions, all goods of Canada or Mexico under the terms of general note 11 to the HTSUS, including any treatment set forth in subchapter XXIII of chapter 98 and subchapter XXII of chapter 99 of the HTSUS, as related to the Agreement between the United States of America, United Mexican States, and Canada (USMCA), continue to be eligible to enter the U.S. market under these preferential terms.  However, all goods of Canada or Mexico that do not qualify as originating under USMCA are presently subject to additional ad valorem duties of 25 percent, with energy or energy resources and potash imported from Canada and not qualifying as originating under USMCA presently subject to the lower additional ad valorem duty of 10 percent.  

(e)  Any ad valorem rate of duty on articles imported from Canada or Mexico under the terms of this order shall not apply in addition to the ad valorem rate of duty specified by the existing orders described in subsection (d) of this section.  If such orders identified in subsection (d) of this section are terminated or suspended, all items of Canada and Mexico that qualify as originating under USMCA shall not be subject to an additional ad valorem rate of duty, while articles not qualifying as originating under USMCA shall be subject to an ad valorem rate of duty of 12 percent.  However, these ad valorem rates of duty on articles imported from Canada and Mexico shall not apply to energy or energy resources, to potash, or to an article eligible for duty-free treatment under USMCA that is a part or component of an article substantially finished in the United States. 

(f)  More generally, the ad valorem rates of duty set forth in this order shall apply only to the non-U.S. content of a subject article, provided at least 20 percent of the value of the subject article is U.S. originating.  For the purposes of this subsection, “U.S. content” refers to the value of an article attributable to the components produced entirely, or substantially transformed in, the United States.  U.S. Customs and Border Protection (CBP), to the extent permitted by law, is authorized to require the collection of such information and documentation regarding an imported article, including with the entry filing, as is necessary to enable CBP to ascertain and verify the value of the U.S. content of the article, as well as to ascertain and verify whether an article is substantially finished in the United States. 

(g)  Subject articles, except those eligible for admission under “domestic status” as defined in 19 CFR 146.43, which are subject to the duty specified in section 2 of this order and are admitted into a foreign trade zone on or after 12:01 a.m. eastern daylight time on April 9, 2025, must be admitted as “privileged foreign status” as defined in 19 CFR 146.41. 

(h)  Duty-free de minimis treatment under 19 U.S.C. 1321(a)(2)(A)-(B) shall remain available for the articles described in subsection (a) of this section.  Duty-free de minimis treatment under 19 U.S.C. 1321(a)(2)(C) shall remain available for the articles described in subsection (a) of this section until notification by the Secretary of Commerce to the President that adequate systems are in place to fully and expeditiously process and collect duty revenue applicable pursuant to this subsection for articles otherwise eligible for de minimis treatment.  After such notification, duty-free de minimis treatment under 19 U.S.C. 1321(a)(2)(C) shall not be available for the articles described in subsection (a) of this section.  

(i)  The Executive Order of April 2, 2025 (Further Amendment to Duties Addressing the Synthetic Opioid Supply Chain in the People’s Republic of China as Applied to Low-Value Imports), regarding low-value imports from China is not affected by this order, and all duties and fees with respect to covered articles shall be collected as required and detailed therein.

(j)  To reduce the risk of transshipment and evasion, all ad valorem rates of duty imposed by this order or any successor orders with respect to articles of China shall apply equally to articles of both the Hong Kong Special Administrative Region and the Macau Special Administrative Region.

(k)  In order to establish the duty rates described in this order, the HTSUS is modified as set forth in the Annexes to this order.  These modifications shall enter into effect on the dates set forth in the Annexes to this order.

(l)  Unless specifically noted herein, any prior Presidential Proclamation, Executive Order, or other Presidential directive or guidance related to trade with foreign trading partners that is inconsistent with the direction in this order is hereby terminated, suspended, or modified to the extent necessary to give full effect to this order.

Sec. 4.  Modification Authority.  (a)  The Secretary of Commerce and the United States Trade Representative, in consultation with the Secretary of State, the Secretary of the Treasury, the Secretary of Homeland Security, the Assistant to the President for Economic Policy, the Senior Counselor for Trade and Manufacturing, and the Assistant to the President for National Security Affairs, shall recommend to me additional action, if necessary, if this action is not effective in resolving the emergency conditions described above, including the increase in the overall trade deficit or the recent expansion of non-reciprocal trade arrangements by U.S. trading partners in a manner that threatens the economic and national security interests of the United States. 

(b)  Should any trading partner retaliate against the United States in response to this action through import duties on U.S. exports or other measures, I may further modify the HTSUS to increase or expand in scope the duties imposed under this order to ensure the efficacy of this action. 

(c)  Should any trading partner take significant steps to remedy non-reciprocal trade arrangements and align sufficiently with the United States on economic and national security matters, I may further modify the HTSUS to decrease or limit in scope the duties imposed under this order.

(d)  Should U.S. manufacturing capacity and output continue to worsen, I may further modify the HTSUS to increase duties under this order.

Sec. 5.  Implementation Authority.  The Secretary of Commerce and the United States Trade Representative, in consultation with the Secretary of State, the Secretary of the Treasury, the Secretary of Homeland Security, the Assistant to the President for Economic Policy, the Senior Counselor for Trade and Manufacturing, the Assistant to the President for National Security Affairs, and the Chair of the International Trade Commission are hereby authorized to employ all powers granted to the President by IEEPA as may be necessary to implement this order.  Each executive department and agency shall take all appropriate measures within its authority to implement this order.

Sec. 6.  Reporting Requirements.  The United States Trade Representative, in consultation with the Secretary of State, the Secretary of the Treasury, the Secretary of Commerce, the Secretary of Homeland Security, the Assistant to the President for Economic Policy, the Senior Counselor for Trade and Manufacturing, and the Assistant to the President for National Security Affairs, is hereby authorized to submit recurring and final reports to the Congress on the national emergency declared in this order, consistent with section 401(c) of the NEA (50 U.S.C. 1641(c)) and section 204(c) of IEEPA (50 U.S.C. 1703(c)).

Sec. 7.  General Provisions.  (a)  Nothing in this order shall be construed to impair or otherwise affect:

(i)   the authority granted by law to an executive department, agency, or the head thereof; or

(ii)  the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.

(b)  This order shall be implemented consistent with applicable law and subject to the availability of appropriations.

(c)  This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.

DONALD J. TRUMP

THE WHITE HOUSE,
    April 2, 2025.

Fact Sheet:
President Donald J. Trump Declares
National Emergency to Increase our
Competitive Edge, Protect our Sovereignty, and Strengthen
our National and Economic Security

April 2, 2025

PURSUING RECIPROCITY TO REBUILD THE ECONOMY AND RESTORE NATIONAL AND ECONOMIC SECURITY: Today, President Donald J. Trump declared that foreign trade and economic practices have created a national emergency, and his order imposes responsive tariffs to strengthen the international economic position of the United States and protect American workers.

• Large and persistent annual U.S. goods trade deficits have led to the hollowing out of our manufacturing base; resulted in a lack of incentive to increase advanced domestic manufacturing capacity; undermined critical supply chains; and rendered our defense-industrial base dependent on foreign adversaries.
   
• President Trump is invoking his authority under the International Emergency Economic Powers Act of 1977 (IEEPA) to address the national emergency posed by the large and persistent trade deficit that is driven by the absence of reciprocity in our trade relationships and other harmful policies like currency manipulation and exorbitant value-added taxes (VAT) perpetuated by other countries.
  
  
• Using his IEEPA authority, President Trump will impose a 10% tariff on all countries.
   
• This will take effect April 5, 2025 at 12:01 a.m. EDT.
   
• President Trump will impose an individualized reciprocal higher tariff on the countries with which the United States has the largest trade deficits. All other countries will continue to be subject to the original 10% tariff baseline.
   
• This will take effect April 9, 2025 at 12:01 a.m. EDT.
   
• These tariffs will remain in effect until such a time as President Trump determines that the threat posed by the trade deficit and underlying nonreciprocal treatment is satisfied, resolved, or mitigated.
  
  
• Today’s IEEPA Order also contains modification authority, allowing President Trump to increase the tariff if trading partners retaliate or decrease the tariffs if trading partners take significant steps to remedy non-reciprocal trade arrangements and align with the United States on economic and national security matters.
   
• Some goods will not be subject to the Reciprocal Tariff. These include: (1) articles subject to 50 USC 1702(b); (2) steel/aluminum articles and autos/auto parts already subject to Section 232 tariffs; (3) copper, pharmaceuticals, semiconductors, and lumber articles; (4) all articles that may become subject to future Section 232 tariffs; (5) bullion; and (6) energy and other certain minerals that are not available in the United States.
   
• For Canada and Mexico, the existing fentanyl/migration IEEPA orders remain in effect, and are unaffected by this order. This means USMCA compliant goods will continue to see a 0% tariff, non-USMCA compliant goods will see a 25% tariff, and non-USMCA compliant energy and potash will see a 10% tariff. In the event the existing fentanyl/migration IEEPA orders are terminated, USMCA compliant goods would continue to receive preferential treatment, while non-USMCA compliant goods would be subject to a 12% reciprocal tariff.

TAKING BACK OUR ECONOMIC SOVEREIGNTY: President Trump refuses to let the United States be taken advantage of and believes that tariffs are necessary to ensure fair trade, protect American workers, and reduce the trade deficit—this is an emergency.
 

• He is the first President in modern history to stand strong for hardworking Americans by asking other countries to follow the golden rule on trade: Treat us like we treat you.
   
• Pernicious economic policies and practices of our trading partners undermine our ability to produce essential goods for the public and the military, threatening national security.
   
• U.S. companies, according to internal estimates, pay over $200 billion per year in value-added taxes (VAT) to foreign governments—a “double-whammy” on U.S. companies who pay the tax at the European border, while European companies don’t pay tax to the United States on the income from their exports to the U.S.
   
• The annual cost to the U.S. economy of counterfeit goods, pirated software, and theft of trade secrets is between $225 billion and $600 billion. Counterfeit products not only pose a significant risk to U.S. competitiveness, but also threaten the security, health, and safety of Americans, with the global trade in counterfeit pharmaceuticals estimated at $4.4 billion and linked to the distribution of deadly fentanyl-laced drugs.
   
• This imbalance has fueled a large and persistent trade deficit in both industrial and agricultural goods, led to offshoring of our manufacturing base, empowered non-market economies like China, and hurt America’s middle class and small towns. 
   
• President Biden squandered the agricultural trade surplus inherited from President Trump’s first term, turning it into a projected all-time high deficit of $49 billion.
   
• The current global trading order allows those using unfair trade practices to get ahead, while those playing by the rules get left behind.
  
  
• In 2024, our trade deficit in goods exceeded $1.2 trillion—an unsustainable crisis ignored by prior leadership.
   
• “Made in America” is not just a tagline—it’s an economic and national security priority of this Administration. The President’s reciprocal trade agenda means better-paying American jobs making beautiful American-made cars, appliances, and other goods.
   
• These tariffs seek to address the injustices of global trade, re-shore manufacturing, and drive economic growth for the American people.
  
  
• Reciprocal trade is America First trade because it increases our competitive edge, protects our sovereignty, and strengthens our national and economic security.
   
• These tariffs adjust for the unfairness of ongoing international trade practices, balance our chronic goods trade deficit, provide an incentive for re-shoring production to the United States, and provide our foreign trading partners with an opportunity to rebalance their trade relationships with the United States.

 
REPRIORITIZING U.S. MANUFACTURING: President Trump recognizes that increasing domestic manufacturing is critical to U.S. national security.

• In 2023, U.S. manufacturing output as a share of global manufacturing output was 17.4%, down from 28.4% in 2001.
   
• The decline in manufacturing output has reduced U.S. manufacturing capacity.
   
• The need to maintain a resilient domestic manufacturing capacity is particularly acute in advanced sectors like autos, shipbuilding, pharmaceuticals, transport equipment, technology products, machine tools, and basic and fabricated metals, where loss of capacity could permanently weaken U.S. competitiveness.
   
• U.S. stockpiles of military goods are too low to be compatible with U.S. national defense interests.
   
• If the U.S. wishes to maintain an effective security umbrella to defend its citizens and homeland, as well as allies and partners, it needs to have a large upstream manufacturing and goods-producing ecosystem.
   
• This includes developing new manufacturing technologies in critical sectors like bio-manufacturing, batteries, and microelectronics to support defense needs.
   
• Increased reliance on foreign producers for goods has left the U.S. supply chain vulnerable to geopolitical disruption and supply shocks.
  
  
• This vulnerability was exposed during the COVID-19 pandemic, and later with Houthi attacks on Middle East shipping.
   
• From 1997 to 2024, the U.S. lost around 5 million manufacturing jobs and experienced one of the largest drops in manufacturing employment in history.

 
ADDRESSING TRADE IMBALANCES: President Trump is working to level the playing field for American businesses and workers by confronting the unfair tariff disparities and non-tariff barriers imposed by other countries.
 

• For generations, countries have taken advantage of the United States, tariffing us at higher rates. For example:
   
• The United States imposes a 2.5% tariff on passenger vehicle imports (with internal combustion engines), while the European Union (10%) and India (70%) impose much higher duties on the same product. 
  
• For networking switches and routers, the United States imposes a 0% tariff, but India (10-20%) levies higher rates.
  
• Brazil (18%) and Indonesia (30%) impose a higher tariff on ethanol than does the United States (2.5%). 
  
• For rice in the husk, the U.S. imposes a tariff of 2.7%, while India (80%), Malaysia (40%), and Turkey (31%) impose higher rates. 
   
• Apples enter the United States duty-free, but not so in Turkey (60.3%) and India (50%).
   
• The United States has one of the lowest simple average most-favored-nation (MFN) tariff rates in the world at 3.3%, while many of our key trading partners like Brazil (11.2%), China (7.5%), the European Union (5%), India (17%), and Vietnam (9.4%) have simple average MFN tariff rates that are significantly higher.
   
• Similarly, non-tariff barriers—meant to limit the quantity of imports/exports and protect domestic industries—also deprive U.S. manufacturers of reciprocal access to markets around the world. For example:
   
• China’s non-market policies and practices have given China global dominance in key manufacturing industries, decimating U.S. industry. Between 2001 and 2018, these practices contributed to the loss of 3.7 million U.S. jobs due to the growth of the U.S.-China trade deficit, displacing workers and undermining American competitiveness while threatening U.S. economic and national security by increasing our reliance on foreign-controlled supply chains for critical industries as well as everyday goods.
   
• India imposes their own uniquely burdensome and/or duplicative testing and certification requirements in sectors such as chemicals, telecom products, and medical devices that make it difficult or costly for American companies to sell their products in India. If these barriers were removed, it is estimated that U.S. exports would increase by at least $5.3 billion annually.
   
• Countries including China, Germany, Japan, and South Korea have pursued policies that suppress the domestic consumption power of their own citizens to artificially boost the competitiveness of their export products. Such policies include regressive tax systems, low or unenforced penalties for environmental degradation, and policies intended to suppress worker wages relative to productivity.
   
• Certain countries, like Argentina, Brazil, Ecuador, and Vietnam, restrict or prohibit the importation of remanufactured goods, restricting market access for U.S. exporters while also stifling efforts to promote sustainability by discouraging trade in like-new and resource-efficient products. If these barriers were removed, it is estimated that U.S. exports would increase by at least $18 billion annually.
  
• The UK maintains non-science-based standards that severely restrict U.S. exports of safe, high-quality beef and poultry products.
• Indonesia maintains local content requirements across a broad range of sectors, complex import licensing regimes, and, starting this year, will require natural resource firms to onshore all export revenue for transactions worth $250,000 or more.
   
• Argentina has banned imports of U.S. live cattle since 2002 due to unsubstantiated concerns regarding bovine spongiform encephalopathy.  The United States has a $223 million trade deficit with Argentina in beef and beef products.
   
• For decades, South Africa has imposed animal health restrictions that are not scientifically justified on U.S. pork products, permitting a very limited list of U.S. pork exports to enter South Africa. South Africa also heavily restricts U.S. poultry exports through high tariffs, anti-dumping duties, and unjustified animal health restrictions. These barriers have contributed to a 78% decline in U.S. poultry exports to South Africa, from $89 million in 2019 to $19 million 2024.
   
• U.S. automakers face a variety of non-tariff barriers that impede access to the Japanese and Korean automotive markets, including non-acceptance of certain U.S. standards, duplicative testing and certification requirements, and transparency issues. Due to these non-reciprocal practices, the U.S. automotive industry loses out on an additional $13.5 billion in annual exports to Japan and access to a larger import market share in Korea—all while the U.S. trade deficit with Korea more than tripled from 2019 to 2024.
   
• Monetary tariffs and non-monetary tariffs are two distinct types of trade barriers that governments use to regulate imports and exports. President Trump is countering both through reciprocal tariffs to protect American workers and industries from these unfair practices.

 
THE GOLDEN RULE FOR OUR GOLDEN AGE: Today’s action simply asks other countries to treat us like we treat them. It’s the Golden Rule for Our Golden Age.
 

• Access to the American market is a privilege, not a right.
   
• The United States will no longer put itself last on matters of international trade in exchange for empty promises.
   
• Reciprocal tariffs are a big part of why Americans voted for President Trump—it was a cornerstone of his campaign from the start.
• Everyone knew he’d push for them once he got back in office; it’s exactly what he promised, and it’s a key reason he won the election.
  
  
• These tariffs are central to President Trump’s plan to reverse the economic damage left by President Biden and put America on a path to a new golden age.
   
• This builds on his broader economic agenda of energy competitiveness, tax cuts, no tax on tips, no tax on Social Security benefits, and deregulation to boost American prosperity.

 
TARIFFS WORK: Studies have repeatedly shown that tariffs can be an effective tool for reducing or eliminating threats that impair U.S. national security and achieving economic and strategic objectives.

• A 2024 study on the effects of President Trump’s tariffs in his first term found that they “strengthened the U.S. economy” and “led to significant reshoring” in industries like manufacturing and steel production.
  
  
• A 2023 report by the U.S. International Trade Commission that analyzed the effects of Section 232 and 301 tariffs on more than $300 billion of U.S. imports found that the tariffs reduced imports from China and effectively stimulated more U.S. production of the tariffed goods, with very minor effects on prices.
   
• According to the Economic Policy Institute, the tariffs implemented by President Trump during his first term “clearly show[ed] no correlation with inflation” and only had a temporary effect on overall price levels.
   
• An analysis from the Atlantic Council found that “tariffs would create new incentives for US consumers to buy US-made products.”
   
• Former Biden Treasury Secretary Janet Yellen affirmed last year that tariffs do not raise prices: “I don’t believe that American consumers will see any meaningful increase in the prices that they face.”
   
• A 2024 economic analysis found that a global tariff of 10% would grow the economy by $728 billion, create 2.8 million jobs, and increase real household incomes by 5.7%.

Fact Sheet
President Donald J. Trump
Imposes Tariffs on
Imports from Canada, Mexico and China

February 1, 2025

ADDRESSING AN EMERGENCY SITUATION: The extraordinary threat posed by illegal aliens and drugs, including deadly fentanyl, constitutes a national emergency under the International Emergency Economic Powers Act (IEEPA).
 

• Until the crisis is alleviated, President Donald J. Trump is implementing a 25% additional tariff on imports from Canada and Mexico and a 10% additional tariff on imports from China.  Energy resources from Canada will have a lower 10% tariff.
   
• President Trump is taking bold action to hold Mexico, Canada, and China accountable to their promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country.
   
• The orders make clear that the flow of contraband drugs like fentanyl to the United States, through illicit distribution networks, has created a national emergency, including a public health crisis. Chinese officials have failed to take the actions necessary to stem the flow of precursor chemicals to known criminal cartels and shut down money laundering by transnational criminal organizations.
   
• In addition, the Mexican drug trafficking organizations have an intolerable alliance with the government of Mexico. The government of Mexico has afforded safe havens for the cartels to engage in the manufacturing and transportation of dangerous narcotics, which collectively have led to the overdose deaths of hundreds of thousands of American victims. This alliance endangers the national security of the United States, and we must eradicate the influence of these dangerous cartels.
   
• There is also a growing presence of Mexican cartels operating fentanyl and nitazene synthesis labs in Canada.  A recent study recognized Canada’s heightened domestic production of fentanyl, and its growing footprint within international narcotics distribution
   

USING OUR LEVERAGE TO ENSURE AMERICANS’ SAFETY: Previous Administrations failed to fully leverage America’s economic position as a tool to secure our borders against illegal migration and combat the scourge of fentanyl, preferring to let problems fester.
 

• Access to the American market is a privilege. The United States has one of the most open economies in the world, and the lowest average tariff rates in the world.
   
• While trade accounts for 67% of Canada’s GDP, 73% of Mexico’s GDP, and 37% of China’s GDP, it accounts for only 24% of U.S. GDP. However, in 2023 the U.S. trade deficit in goods was the world’s largest at over $1 trillion.
   
• Tariffs are a powerful, proven source of leverage for protecting the national interest.  President Trump is using the tools at hand and taking decisive action that puts Americans’ safety and our national security first.
   
• Though previous Administrations have failed to leverage America’s combination of exceptional strength and its unique role in world trade to advance the security interests of the American people, President Trump has not.
   

PRESIDENT TRUMP IS KEEPING HIS PROMISE TO STOP THE FLOOD OF ILLEGAL ALIENS AND DRUGS: When voters overwhelmingly elected Donald J. Trump as President, they gave him a mandate to seal the border. That is exactly what he is doing.
 

• The Biden Administration’s policies have fueled the worst border crisis in U.S. history.
   

• More than 10 million illegal aliens attempted to enter the United States under Biden’s leadership, including a rising number of Chinese nationals and people on the terror watchlist.
   
• This problem is not confined to the southern border – encounters at the northern border with Canada are rising as well.
   
• The sustained influx of illegal aliens has profound consequences on every aspect of our national life – overwhelming our schools, lowering our wages, reducing our housing supply and raising rents, overcrowding our hospitals, draining our welfare system, and causing crime.  
   
• Gang members, smugglers, human traffickers, and illegal drugs and narcotics of all kinds are pouring across our borders and into our communities.
   
• Last fiscal year, Customs and Border Protection (CBP) apprehended more than 21,000 pounds of fentanyl at our borders, enough fentanyl to kill more than 4 billion people.
   
• It is estimated that federal officials are only able to seize a fraction of the fentanyl smuggled across the southern border.  
   
• These drugs kill tens of thousands of Americans each year, including 75,000 deaths per year attributed to fentanyl alone.
   
• More Americans are dying from fentanyl overdoses each year than the number of American lives lost in the entirety of the Vietnam War.
   

BUILDING ON PAST SUCCESS: President Trump continues to demonstrate his commitment to ensuring U.S. trade policy serves the national interest.
 

• As President Trump said in the Presidential Memorandum on American First Trade Policy, trade policy is a critical component in national security.
   
• President Trump promised in November to “sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders. This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!”
   
• During his first term as President of the United States, President Trump established the President’s Commission on Combating Drug Addiction and the Opioid Crisis and declared the Opioid Crisis a public health emergency.
   
• President Trump also has a long record of putting America first on trade. In his first term, President Trump successfully used threats of tariffs on Mexico to help secure our border.
   
• When our national security was threatened by a global oversupply of steel and aluminum, President Trump took swift action to protect America’s national security by implementing tariffs on imports of these goods.
   
• In response to China’s intellectual property theft, forced technology transfer, and other unreasonable behavior, President Trump acted with conviction to impose tariffs on imports from China, using that leverage to reach a historic bilateral economic agreement.
   
• Just last week, President Trump leveraged tariffs to successfully resolve national security concerns with Colombia, swiftly reaching an outcome that prioritizes the safety and security of the American people and the sanctity of our national borders.

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April 2nd, 2025,, Rev. April 3rd, 2025 , May 26, 2025, July 3rd, 2025