Fighting for years in his administration to seek "reciprocal trade" in unwinding "free trade" deals that made the U.S. a "whipping post" to the world, former President Donald Trump unveiled his Agenda47 trade policy proposal Thursday.
"Under the Trump Reciprocal Trade Act, other countries will have two choices — they'll get rid of their tariffs on us, or they will pay us hundreds of billions of dollars, and the United States will make an absolute fortune," Trump said in his policy video posted to Rumble and shared on his campaign website and Truth Social.
"There will be no more unilateral economic surrender like we've done for many, many decades."
Trump blasted President Joe Biden for having "run up record trade deficits, also known as losses, higher than any president in history by far.
"These gaping wounds are costing our country countless jobs and trillions and trillions of dollars in wealth," Trump continued. "One of my top economic priorities will be to stem this bleeding and put American workers on a level playing field. It's about time.
"And I must say, I did it three years ago, and they were doing great, but that's been blown out the window by the Biden administration."
The policy, which has long been panned by "free trade" lawmakers, including Republicans, will be simple in its design and be a finger in the eye to those fearing a global trade war.
"If India, China, or any other country hits us with a 100 or 200% tariff on American-made goods, we will hit them with the same exact tariff," Trump vowed. "In other words, 100% is 100%. If they charge us, we charge them — an eye for an eye, a tariff for a tariff, same exact amount.
"One thing is going to happen: probably they drop the tariff, but if they don't, that's OK. We'll take in plenty of money."
Trump pivoted the trade policy as one that will be popular in the first-in-the-nation caucuses of Iowa to kick off the 2024 GOP primary cycle.
"This will especially help our great farmers in Iowa and other agricultural states, and it will help our manufacturers all across the nation," Trump said. "We will be knocking down barriers to American farm products, American dairy products, steel — just about everything you can think of. From all around the world they take advantage of us, but no more.
"We must have fairness and reciprocity. That's the word — reciprocity. They do it to us; we do it to them."
Ultimately, Trump concluded, it will help boost the America first agenda and reignite the American economy.
"This will be a key part of our strategy to return jobs and wealth to the United States and launch an economic boom that will lift up our middle class and eliminate our dependence on China and other countries," Trump said. "It is something that has been waiting to happen for a long time.
"We have been the whipping post for everyone else. We have been a country that was disrespected on trade, and frankly, disrespected on just about everything. No more."