From India to all countries of the world including India to Brazil, Japan, Korea, America has announced a fresh tariff. Some countries have got some relief by compromising with the US, while some of the US President Trump has bombed a strong tariff bomb. They are also facing criticisms about this. But Donald Trump has said a lot while defending his tariff policy. He said that we are getting a lot of money through Tariff and we should have already done this.
‘A lot of money is coming, will now repay the loan’
US President Donald Trump on Monday defended his tariff strategy and his decisions of imposing penalty on various issues on all countries. Along with this, he resolved to use the increase in revenue to pay huge loans on America. Meanwhile, defending the US Tariff, Trump said, ‘We are getting a lot of money, the country has seen more than the money that has been seen so far.’ The US President further said that now one of what we are going to do is to reduce the debt burden on America, we should have done this work many years ago.
Trump said- ‘We will earn hundreds of billions of dollars’
President Trump stressed during a conversation with reporters that the recipe is about the fairness and I am looking for it. He said that, ‘We want to see mutual behavior wherever and as much as possible. Now our country will earn hundreds of billion dollars. According to the US President, he had prepared to expand this tariff strategy in his first term as an US President, but due to the Kovid-19 epidemic, it was interrupted. He said, ‘I did this with China in my first term. We could not do the rest of the work due to Corona.
Trump has increased tariffs on 69 countries
It is worth noting that Trump has imposed a high tariff of up to 50% on imports from countries with a US trade deficit, while almost all other countries have a baseline tariff of 10%. He has declared the business imbalance as National Emergency citing a 1977 law. Even before the deadline of August 1, the US President has issued a new letter to extend its pre -fixed tariffs for about 69 countries, while some countries have also provided additional fines.
The biggest trump tariff bomb is Brazil at number one of the countries which have been boiled. Us tariff on Brazil is 50%, while 41%on Syria, 39%on Switzerland, 35%on Canada, 25%tariff on India. At the same time, Trump has been kind to Pakistan and has reduced the 29% tariff on Pakistan declared in April to 19%.
Had given signs as soon as he became president
Donald Trump had indicated his rigorous tariff policy for the second time as soon as he was held in the US President and has given a new look to the global economic landscape in just six months of the second term. He has adopted a rigorous America first policy in place of decades-old multilateral trade policy, which has demanded unilateral concessions, so punitive results have been imposed.
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