Trump threatens tariffs on India, China, Brazil that 'harm' US
What's the story
United States President Donald Trump has announced plans to impose tariffs on countries he accuses of "harming" America.
Speaking to House Republicans at a Florida retreat, he named China, India, and Brazil as high-tariff nations.
"We're going to put tariffs on outside countries...that really mean harm to us. China is a tremendous tariff-maker, and India, Brazil, and so many other countries. We're not going to let that happen any longer...because we're going to put America first," Trump said.
Economic plan
Trump unveils strategy to 'put America 1st'
Trump claimed the US wouldn't tolerate such practices anymore, promising a "very fair system where money is going to come into our coffers, and America is going to be very rich again."
The president promised this economic transformation would happen "very quickly."
In his address, Trump also urged companies to set up manufacturing in the US to avoid tariffs.
"If you want to stop paying...taxes or the tariffs, you have to build your plant right here in America," he said.
Industrial shift
Trump encourages domestic manufacturing to avoid tariffs
He predicted a surge in domestic plant construction due to these incentives.
He also informed House Republicans of plans to impose tariffs on steel, aluminum, copper, and other materials used by the American military.
"We have to bring production back... There was a time we made a ship a day. Now we can't... We don't know what the hell we're doing," he said.
New agency
Trump announces 'External Revenue Service' for tariff collection
The president also proposed an overhaul of the country's tax system, calling for abolition of federal income tax.
In a bid to support his proposal, Trump cited the Great Tariff Commission of 1887.
He noted that from 1870 to 1913, US relied solely on tariffs and "that was the richest period in the country's history." announced an 'External Revenue Service (ERS)' which would be responsible for collecting tariffs from foreign governments.
Trade talks
Modi, Trump have phone conversation
The statements came shortly after he said that Indian Prime Minister Narendra Modi was planning a meeting with him in Washington as early as next month.
The two presidents spoke on the phone Monday night, during which they discussed strengthening and deepening collaboration.
They also discussed a number of regional concerns, such as security in the Indo-Pacific, the Middle East, and Europe.
It is unclear if tariffs were on the agenda.