US President Donald Trump has taken another step in his economic policy, announcing the introduction of global duties on imports. On April 2, speaking in the pink garden of the White House, he called this day the "Day of Liberation" of America and signed a historical decree on new trade tariffs.
According to the new rules, the United States introduces a universal duty of 10% to almost all imports, as well as increased tariffs for countries that have the largest trade surplus in relations with the United States. In addition, from April 3, a 25 percent duty on all foreign cars comes into force.
Trump explained that his administration seeks "fair trade" and therefore establishes mirror tariffs for all countries. "Mutual tariffs mean that if other countries are taxing high -tax goods, then we will answer the same," he said.
The US President has criticized India, Vietnam, Thailand and other countries because they are charging much higher duties on American products. For example, he noted that the United States imposes only 2.4%of motorcycle import duties, while India sets 70%and Vietnam 75%.
"For decades, our country has been robbed, ruined and used by both friends and enemies," Trump said, stressed that such measures are necessary to protect the US industry.
The decision of the Trump administration has already provoked an ambiguous reaction. American metallurgists, farmers and car manufacturers can gain benefits from new policy, but US international trading partners can respond to their own counter -measures.
The European Union, China and other countries are expected to resort to mirror sanctions, which can lead to further escalation of the Trade War.
New tariffs can change global trade relations and affect the value of goods in the US and the world. Whether this will become a new stage in the US economic development or only worsen the situation in the world market - time will tell.
