President Donald Trump, during a Cabinet meeting at the White House on Monday, announced plans to impose tariffs on automobiles, aluminium, and pharmaceuticals in the near future. He emphasized the necessity of these measures, stating that the United States would require these products domestically in the event of conflicts or wars. Trump asserted, “We’ve been ripped off by every country,” highlighting his administration’s commitment to addressing trade imbalances. ​

Commerce Secretary Howard Lutnick, present at the meeting, introduced the concept of the “external revenue service,” set to launch on April 2. This initiative aims to collect revenues from foreign entities through the newly proposed tariffs, drawing a parallel to the domestic Internal Revenue Service. ​

In addition to trade policies, President Trump expressed his desire for the Federal Reserve to lower interest rates, aiming to stimulate economic growth and maintain low taxes for American citizens.​

Addressing international relations, Trump mentioned that an agreement with Ukraine concerning rare earth minerals is nearing completion and anticipated to be signed soon. He also indicated discussions about a significant nuclear power plant project in Ukraine, suggesting potential U.S. involvement to ensure operational security and efficiency.

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