Donald Trump has ripped up decades of American trade policy and norms, announcing a self-styled “Liberation Day” for the US. With his customary flourish, the US president unveiled a raft of tariffs aimed at goods from American “friend and foe alike” alike, including Australia.
While trade imbalances have likely hollowed out the US middle class, making the economy more difficult to thrive in, in Trump’s words, the US had “for decades ... been looted, pillaged, raped and plundered”.
The transcript of Trump’s 48-minute Rose Garden speech runs to 20 pages and includes his trademark digressions and extreme language. Forever one to speak colourfully, if not bombastically, we fact-check some of Trump’s key claims below.
The following is an edited and annotated transcript of Trump’s press conference. We have checked some of his key claims – click on the highlighted passages in bold to read our analysis.
1. “This is Liberation Day.… the day America’s destiny was reclaimed.”
2. Who is Brian – the man Trump invited on stage?
3. “They (Australia) don’t want it to affect their farmers.”
4. “We used to be the king, right?”
5. “Apple is going to spend $500 billion.”
6. “Every prediction our opponents made about trade for the last 30 years have been proven totally wrong.”