Ok US President Donald Trump is set to unveil a massive array of tariffs under what he terms “Liberation Day.” These new levies are designed to hit an enormous array of imports, most notably a 20% tax on foreign-made automobiles. The action follows last week’s 25% tariff on automobiles and auto parts and comes as global trading partners increasingly express alarm, threatening retaliatory steps.
The announcement, an extension of Trump’s wider “Make America Rich Again” agenda, is an expression of his government’s assertive approach to what it sees as unfair trade.
The tariffs are to be “reciprocal,” copying those placed on US goods by other countries, including India, the European Union, Japan, and Canada. Most notably, the White House has directly condemned India for its 100% duty on US farm products, stoking speculation over whether targeted action will be taken against major economies. Trump government has allegedly drawn up a list of nations, referred to as the “Dirty 15,” that it says have exploited US market access while protecting their own businesses with protectionist measures.
While Trump contends that these new restrictions will bring in $600 billion in annual revenue and build up American manufacturing, critics are concerned they will cause inflation, broken supply chains, and eroding consumer confidence. With everyone on edge, the world waits for the White House and the possible consequences of this latest episode in Trump’s trade war.
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U.S. President Donald Trump has declared a national economic emergency, granting himself broad powers to impose reciprocal tariffs on countries he accuses of unfair trade practices. Speaking from the White House Rose Garden during the “Make America Wealthy Again” event, Trump vowed to counter America’s record $1.2 trillion trade deficit by boosting domestic manufacturing. Despite economists arguing that the trade gap doesn’t fully reflect U.S. economic strength, given a $1.1 trillion surplus in services, Trump insists tariffs are necessary to level the playing field. The new measures, including steep levies on auto imports, are expected to take effect immediately, further escalating...
Canadian Prime Minister Mark Carney is set to make a statement soon regarding U.S. President Donald Trump’s newly imposed tariffs, with Canada’s official response expected on Thursday, Reuters reported. Meanwhile, European Commission President Ursula von der Leyen will address the issue at 8 AM IST, outlining the EU’s stance on the tariffs.
The U.S. stock market opened lower today due to concerns over Trump’s tariff policies but later recovered. Despite this, Trump assured a strong comeback, saying, “Maybe the numbers won’t show, but I think they’re going to show much better than even those numbers.
President Donald Trump announced a 26% tariff on Indian imports, citing trade imbalances while maintaining his friendship with Prime Minister Narendra Modi.
“India, very, very tough. The Prime Minister just left and is a great friend of mine, but you are not treating us right. They charge us 52%, and we charge them almost nothing,” Trump said at the Make America Wealthy Again event.
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