Relief to 75 countries including India, 125% tariff bomb on China … big things about US President Trump’s new announcement – Relief to 75 Countries Including India 125 Percent Tariff On China HIGHLIGHTS OF Us President Trump Announcement NTC
US President Donald Trump has announced a huge economic attack on China and announced a 125 percent import duty on its products. Earlier, the US had increased this rate to 104 percent. After this, China also increased the fees on the products coming from America to 84 percent. At the same time, Trump has announced a 90 -day exemption on ‘Risiproke Tariff’, giving a big relief to 75 countries including India. During this period, only 10 percent fee will be applicable on these countries.
This decision has come at a time when business tension between the big countries of the world is reaching the peak and the possibility of global recession has started deepening. While this decision of Trump is being considered as a strategy to pressurize China, on the other hand critics say that this step is a ‘e-turn’ raised after a decline in global markets and heavy criticism.
Trump said on his social media platform Truth Social, “I have authorized a 90 -day Pause and during this time reciperochl tariff for other countries has been reduced to 10%, which is in force with immediate effect.”
Trump’s biggest step so far against China
This is considered to be Trump’s most aggressive step ever amidst the US-China trade tension. He wrote in its post, “In response to the disrespect of the world markets, the US will now charge a fee of 125%. China will have to understand that the exploitation of America and other countries will no longer be tolerated.”
Earlier, China also retaliated on Wednesday and increased tax on the products imported from the US to 84 percent, which was earlier 34 percent. China’s Foreign Ministry criticized the move and said that it would take concrete and strong steps to protect its valid rights and interests.
Relief to 75 countries including India
In this tariff campaign of America, 75 countries including India are currently relieved. These countries will not apply new tariff rates and they have been given a discount of 90 days. During this period, only 10% fee will be charged on them. American Treasury Secretary Besant said that the countries who have survived retaliation against America will get its reward. He said that Mexico and Canada have been included in 10% tariff slab, which will give them relief.
Besant said that the 90 -day ‘pose’ has not been taken due to the market response. The market did not understand that the tariff plan was already at its maximum level. This decision was taken because China was constantly walking on the path of conflict. This decision of President Trump shows that America will no longer back down.
Stock markets boom
After the announcement of Trump, the US stock markets saw a strong rise. S&P 500 recorded a gain of 474.13 points (9.52%) and closed at 5,456.90. The Nasdaq Composite gained 1,857.06 points (12.16%) and closed at 17,124.97 and Dow Jones Industrial Average jumped 2,962.86 points (7.87%) and it closed at 40,608.45. During this time Walmart’s shares increased by 8%. Market analysts have considered it a step towards clear policy and possible agreement. The US stock market recorded a record lead of $ 4 trillion in just 10 minutes after Trump’s announcement, which shows the massive economic impact of the decision.
No other president does what I did: Trump
Talking to the media, President Donald Trump said, “I felt that people were moving a little further. No one else would do what I did. Someone did it. Will give it to China and I think that I think it will be very good within a year or perhaps I would have imagined that I would have imagined it.
Decision not taken under any pressure: White House
When reporters questioned American Treasury Secretary Scott Besant about this decision of Trump, he said, “This market is not to bend in front of pressure. It was part of the President’s strategy. They deliberately brought China to such a situation that they prove themselves wrong in front of the world. More than 75 countries have contacted America and we will have a special solution with every one. Want to interact with the intention. This is why the President Trump himself wants to join the process.
Growing trade war, companies in anxiety
With Trump’s new tariff policy, the trade war between the US and China is once again seen reaching the peak. The sequence started in February at the 10 percent fee has now reached 125 percent. Trade analysts believe that this situation will also affect America’s domestic companies. Production costs are expected to increase, job cuts and lack of international competition. Many American companies have warned that the cost will increase a lot, employees may have to be trimmed and it will be difficult to compete in the global market.
China’s retaliation, America’s reply
China has reacted strongly to Trump’s decision and said that it will not come under the pressure of America. At the same time, America argues that the trade deficit with China is unbalanced and it is necessary to correct it. According to the data, last year, China exported goods worth about $ 439 billion to the US, while the US has only $ 144 billion to China. “When someone tries to hurt America, President Trump will respond more with more strength,” said the White House press secretary Caroline Lewitt.
