Trump praises tariffs as economic boon, announces major policy shift

New Delhi (The Uttam Hindu) : US President Donald Trump made a major announcement in a speech in North Carolina, saying that starting in the new year, Americans will benefit from the largest tax cut in history. According to Trump, the proposed relief includes waiving taxes on tips, waiving taxes on overtime, and eliminating taxes on Social Security for senior citizens.

'America's Golden Age Begins'

In his address, Trump said that during the past four years of crisis and decline, the world had mocked America, but now the situation is changing. "We are beginning America's most glorious years—it will be called America's Golden Age," he said. Trump claimed that in the past 10 months, borders have been secured, inflation has been controlled, wages have risen, and prices have fallen. "America is back," he reiterated.

"We will fight, we will win, and we will make America great again," the president told supporters, adding that with their help, America will become strong and prosperous again. Speaking on tax policy, Trump said his favorite word previously was "tariff," but that it has now fallen below his priorities, signaling that domestic tax relief is high on his new focus list.

Claiming to protect workers and industries through tariffs, Trump said that his government has ended the "radical leftist agenda" against American energy. He also claimed that petrol prices have fallen after cancelling the 'Green New Scam' and implementing the "Drill, Baby, Drill" policy. He said that 25% tariffs have been imposed on foreign cars and 50% on foreign steel. Also, tariffs of 25%, 30% and 50% have been imposed to save the furniture industry of North Carolina - so that domestic industries and workers are protected.

All eyes are now on Trump's claims and proposals to see what the actual economic impact of the tax cuts and tariff policies will be and what response they receive in Congress.