President Donald Trump says his U.S. tariff policies - which have rattled global trade, supply chains and financial markets - are designed to encourage American manufacturing of cutting edge technology products and military equipment rather than apparel and sneakers.
"I'm not looking to make T-shirts, to be honest. I'm not looking to make socks. We can do that very well in other locations,” Trump told reporters before boarding Air Force One in New Jersey on May 25. “We are looking to do chips and computers and lots of other things, and tanks and ships.”
Trump added that he agreed with Treasury Secretary Scott Bessent that the U.S. does not need a "booming textile industry” - comments that were roundly criticized by domestic manufacturers and producers of fiber, yarn, home products, and more.
Trump on April 3 announced global "Liberation Day" reciprocal tariffs, sending the world's financial markets into a nosedive before pausing the tariffs for 90 days for most countries except China. Trump won the 2016 and 2024 U.S. presidential elections in part by appealing to working class voters hurt by the loss of U.S. manufacturing jobs over many years.
The Trump administration has been negotiating trade deals with various countries since April.
The only deal reached so far has been with the United Kingdom. Talks with China, which imposed tit-for-tat tariffs on the U.S., are ongoing after both countries agreed to lower steep tariffs.
