Trump: America is looking to build tanks and computers not socks and T-shirts
Trump: America is looking to build tanks and computers not socks and T-shirts
Show Caption
Hide Caption
European shares rise after Trump says he'll delay tariffs until July 9
European stocks rose after President Donald Trump announced a delay in new 50% tariffs until July 9.
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.
"We're not looking to make sneakers and T-shirts. We want to make military equipment,' he said. 'We want to make big things. We want to make, do the AI thing.'
China has been the world's largest apparel manufacturer and exporter for more than a decade. In response to the Republican president's trade war with Beijing, several Chinese social media users have mocked the United States with AI-generated viral videos depicting bored, unskilled and disengaged Americans unsure of how to prepare a piece of fabric before placing it on a sewing machine. Others in the videos have glazed looks while assembling smartphones. Toward the end, the screen flashes, 'Make America Great Again.'
The American Apparel & Footwear Association responded to Trump's remarks saying that additional tariffs would only further burden the industry.
"With 97% of the clothes and shoes we wear being imported, and with clothes and shoes already the most highly tariffed industry in the U.S., we need to focus on common sense solutions that can move the needle," AAPA President Steve Lamar said in a statement. "More tariffs will only mean higher input costs for U.S. manufacturers and higher prices that will hurt lower income consumers."
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.
Contributing: Zac Anderson, USA TODAY; Reuters
Swapna Venugopal Ramaswamy is a White House correspondent for USA TODAY. You can follow her on X @SwapnaVenugopal
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Ambarella First Quarter 2026 Earnings: Beats Expectations
Revenue: US$85.9m (up 58% from 1Q 2025). Net loss: US$24.3m (loss narrowed by 36% from 1Q 2025). US$0.58 loss per share (improved from US$0.93 loss in 1Q 2025). Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 8.2%. Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Semiconductor industry in the US. Performance of the American Semiconductor industry. The company's shares are down 15% from a week ago. It's still necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Ambarella, and understanding them should be part of your investment process. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Times
20 minutes ago
- New York Times
What We Know About the Conflict Over a Trans Athlete in a California Track Meet
A transgender girl in California qualified for this week's state high school track and field meet, and her inclusion in the two-day event has angered people who do not believe that trans girls should compete in girls' events. They believe that trans girls hold a physical advantage and say that allowing them to take part is unfair. Her participation has fueled a political debate that has reached the White House: President Trump has threatened to pull federal funding from the state if it lets the trans girl, AB Hernandez, compete at the meet. Civil rights advocates have denounced the threat as bullying behavior. Now the eyes of the president, the governor, conservative activists and transgender rights groups will be on the meet, which began Friday in Clovis, near Fresno. It's arguably the most competitive high school track and field meet in the nation. Here's what to know: What events is the trans girl competing in? Hernandez qualified for the meet in three events: the high jump, the long jump and the triple jump. On Friday, she finished as the top qualifier in all three events and advanced to Saturday's finals. There, medals typically go to the top nine athletes. She is one of the favorites in the long jump and the triple jump. What is the gist of the debate? People who are against trans girls' competing in girls' events believe that those athletes hold unfair advantages over other competitors. Athletes who were born male, they say, have a physiological edge — including muscle mass and bone length — that they retain even after their transition. They think that physical edge makes it harder for all girls to have an equal chance at making teams, qualifying for meets and winning. In California, trans girls have had the right to compete in girls' events since 2013, when a law was passed that said students could participate in school sports in the category that matched their gender identity. Want all of The Times? Subscribe.
Yahoo
25 minutes ago
- Yahoo
USW: Trump's 50% tariffs on steel and aluminum are a direct attack on Canadian jobs — Ottawa must act now
TORONTO, May 31, 2025 (GLOBE NEWSWIRE) -- The United Steelworkers union (USW) is warning that U.S. President Donald Trump's decision to double tariffs on both steel and aluminum to 50% is a devastating blow to Canada's industries and the hundreds of thousands of jobs they support – one that demands an immediate and forceful response from the federal government. 'A 50% tariff would completely shut us out of the U.S. market,' said Marty Warren, United Steelworkers National Director for Canada. 'This isn't trade policy – it's a direct attack on Canadian industries and workers. Thousands of Canadian jobs are on the line and communities that rely on steel and aluminum are being put at risk. Canada needs to respond immediately and decisively to defend workers.' The tariffs, announced by Trump on Friday and confirmed on social media, will take effect on Wednesday, June 4. With no exemption for Canada, these measures severely further disrupt integrated North American supply chains and threaten tens of thousands of good union jobs, both directly and indirectly, in sectors like manufacturing, auto, defense, aerospace, and construction. Canada is the United States' largest supplier of steel and aluminum. 'Workers in Canada's steel and aluminum industries have already been hit hard by months of uncertainty. Now their livelihoods are being threatened again,' Warren added. 'We need more than statements. We need concrete action — and we need it now.' The USW is urging the federal government to act without delay to keep workers working. The top priority must be expanding the use of Section 53 of the Customs Tariff and apply targeted countermeasures to protect the Canadian market from offshore steel. The government must also eliminate the exemptions that allow U.S. steel and aluminum to enter Canada tariff-free. If the United States is closing its market to Canadian producers, Ottawa must ensure Canadian producers are not undercut in their own. At the same time, the federal government must move quickly to strengthen domestic demand through industrial investment and domestic procurement reform. Requiring Canadian-made steel and aluminum in all publicly funded infrastructure projects is a necessary step to support local jobs and build long-term resilience. Introducing a made-in-Canada tax credit would further incentivize the use of domestic materials by private industry. The government must also be prepared to support affected workers through a reform of Employment Insurance and a wage subsidy program with jobs guarantees to help retain skilled workers. 'Canadians expect their government to defend working people – not stand by while entire industries are pushed out of global markets,' concluded Warren. About the United Steelworkers unionThe USW represents 225,000 members in nearly every economic sector across Canada and is the largest private-sector union in North America, with 850,000 members in Canada, the United States and the Caribbean. Each year, thousands of workers choose to join the USW because of the union's strong track record in creating healthier, safer and more respectful workplaces and negotiating better working conditions and fairer compensation – including good wages, benefits and pensions. For more information, please contact:Shannon Devine, USW Communications, sdevine@ 416-938-4402
