US President Donald Trump today wrote in a post on his social media platform Truth Social, ‘IT’s Liberation Day in America’ (Today is the day of independence in America). He is scheduled to announce tariffs with his cabinet members at the Rose Garden of the White House at 4:00 pm (Indian time at 1:30 pm Indian time).
Today Trump will announce tariff
Trump is promising that his new business policies will protect America from ‘being looted’ and will lead the country to a ‘golden age’. On Tuesday, the White House clarified that these new tariffs would be implemented immediately after the announcement of President Trump. The purpose of this tariff is to compete with the ‘unfair trade policies’ that have caused damage to American workers and industries.
‘America had become the world’s piggy for a long time’
Trump said in a press conference, ‘America had been a gullak of the world for a long time. Today, we are taking back control. This is our Liberation Day- improper trade agreements, heavy duty levied on American goods and freedom from policies that damage our businesses and workers.
Many countries will affect Trump’s announcement
This move of the Trump administration will affect major trade partners like China, European Union, India, Japan, Mexico and Canada. After the announcement of these tariffs, there has been a stir in the global markets and many countries have indicated possible retaliation. This has increased the possibility of a new global trade war.