On Wednesday, President donald trump declared broad reciprocal tariffs, including those on china and india, which he referred to as "our declaration of economic independence." The 78-year-old put a 26% tariff on goods from india and a 32% tariff, which was 8% higher, for China.
At a white house press conference, the president made the much-awaited announcement while highlighting the need to increase local manufacturing. At the 'Make America Wealthy Again' event, trump referred to india as "very, very tough," and he reaffirmed that US exports to india are subject to 52% tariffs.
But he referred to prime minister Narendra Modi as his "good friend." trump remarked, "India is very, very tough." "You are not treating us fairly, even if the prime minister is a good friend of mine and recently left. We charge them nearly nothing, and they charge us 52%." trump also revealed a list of all the nations and the percentage of tariffs that will be applied to goods coming from them. Here's the full list
China: 34%
European Union: 20%
South Korea: 25%
India: 26%
Vietnam: 46%
Taiwan: 32%
Japan: 24%
Thailand: 36%
Switzerland: 31%
Indonesia: 32%
Malaysia: 24%
Cambodia: 49%
United Kingdom: 10%
South Africa: 30%
Brazil: 10%
Bangladesh: 37%
Singapore: 10%
Israel: 17%
Philippines: 17%
Chile: 10%
Australia: 10%
Pakistan: 29%
Turkey: 10%
Sri Lanka: 44%
Colombia: 10%
Trump Calls Tariff Announcement 'Declaration Of Economic Independence'
Trump declared, "It's our declaration of economic independence," as he announced the tariffs. "For years, diligent Americans were compelled to watch as other countries amassed wealth and influence, frequently at our expense. However, it is now our chance to thrive. trump claimed that although his tariff approach was "kind reciprocal," he could have been far more strident with US trading partners. Despite the high rates, he maintains that they are still less than what certain countries charge American exporters, referring to them as the "discounted reciprocal tariff."
At a white house press conference, the president made the much-awaited announcement while highlighting the need to increase local manufacturing. At the 'Make America Wealthy Again' event, trump referred to india as "very, very tough," and he reaffirmed that US exports to india are subject to 52% tariffs.
But he referred to prime minister Narendra Modi as his "good friend." trump remarked, "India is very, very tough." "You are not treating us fairly, even if the prime minister is a good friend of mine and recently left. We charge them nearly nothing, and they charge us 52%." trump also revealed a list of all the nations and the percentage of tariffs that will be applied to goods coming from them. Here's the full list
China: 34%
European Union: 20%
South Korea: 25%
India: 26%
Vietnam: 46%
Taiwan: 32%
Japan: 24%
Thailand: 36%
Switzerland: 31%
Indonesia: 32%
Malaysia: 24%
Cambodia: 49%
United Kingdom: 10%
South Africa: 30%
Brazil: 10%
Bangladesh: 37%
Singapore: 10%
Israel: 17%
Philippines: 17%
Chile: 10%
Australia: 10%
Pakistan: 29%
Turkey: 10%
Sri Lanka: 44%
Colombia: 10%
Trump Calls Tariff Announcement 'Declaration Of Economic Independence'
Trump declared, "It's our declaration of economic independence," as he announced the tariffs. "For years, diligent Americans were compelled to watch as other countries amassed wealth and influence, frequently at our expense. However, it is now our chance to thrive. trump claimed that although his tariff approach was "kind reciprocal," he could have been far more strident with US trading partners. Despite the high rates, he maintains that they are still less than what certain countries charge American exporters, referring to them as the "discounted reciprocal tariff."
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