These two countries will suffer heavy losses due to Trump's tariff!
Last week, US President donald trump imposed reciprocal tariff on many countries of the world including India. Tariff of up to 50 percent has been imposed on many countries. trump has imposed a baseline tariff of 10 percent on all countries. This tariff of trump has had the greatest impact on South-East Asian countries and some of the weakest economies of the world. This has further increased the impact of the 90 percent cut in international Development (USAID) foreign aid contracts by the trump administration in these countries.
canada and mexico out of tariff list
America has excluded mexico and canada from the list of 10 percent baseline and reciprocal tariff under the US-Mexico-Canada Agreement (USMCA). In fact, USMCA (United States-Mexico-Canada Agreement) implemented during Trump's first term promotes free trade and under this they have been excluded from the tariff list.
Let us tell you that there will be 0 percent tariff on goods coming under USMCA, while 25 percent tariff will be imposed on non-USMCA goods and 10 percent tariff will be imposed on energy. mexico and canada have also been exempted because they are a major supply chain for North America in the automobile and energy sectors, which are important for the US economy. However, if canada and mexico do not cooperate with the US on border security and trade deficit, then tariff can be imposed on them too.
Which countries will be most affected by the tariff?
China's name comes first on this list. trump had announced a 54 percent tariff on china earlier this week. In retaliation to this, china imposed a tariff of 34 percent on American imports and now the US has given an open challenge to china and said that if china does not remove the 34 percent tariff by april 8, then an additional 50 percent tariff will be imposed on it. In such a situation, the total tariff on Chinese goods will be 94 percent. china exports goods worth $430 billion to the US. In such a situation, the possibility of loss increases significantly due to increase in tariff.
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