“Tariffs are not just about protecting American jobs. They’re about protecting the soul of our country,” Trump said in his first address to a joint session of congress since returning to the White House.

“There’ll be a little disturbance, but we’re okay with that. It won’t be much,” he added.

He warned that those who do not make their products in the US will have to pay levies, “in some cases a rather large one.”

Trump also took aim at the EU and countries including Canada, Brazil, India, Mexico and South Korea over what he called “unfair” practices.

“This is happening by friend and foe. This system is not fair to the US, and never was,” he said.

He added that reciprocal tariffs tailored to US trading partners would “kick in” on April 2.

Trump promised “trillions of dollars” in gains from tariffs, alongside job creation.

Since returning to office, Trump has moved swiftly to impose tariffs hitting some US$1.4 trillion in US imports from Canada, Mexico and China – with further levies in the pipeline.

The moves sent shockwaves through financial markets, drawing swift retaliation, including counter-tariffs and other measures.