Donald Trump On Tariff War: US President Donald Trump’s ‘tariff war’ has started from today. Under the tit for tat plan, Trump has first burst the bomb of ‘tariff war’ against his neighbouring countries Canada and Mexico. 25% tariff will be imposed against both the countries from today. Due to this, 25% tariff will be imposed on goods exported from Canada-Mexico to the US. At the same time, the US President has also threatened India in a subtle way to prepare for this.
In fact, US President Donald Trump had given a month’s time in February because both Mexico and Canada had promised to make concessions. However, Trump said on Monday that there is no room left for Mexico or Canada to avoid the new tariff. Trump said that there is no room for delay in this. Now after this announcement of Trump, the fear of North American trade war has increased again.
However, Trump has also indicated that he wants to balance the trade imbalance with both countries and encourage more factories to move to the US. Trump said that 25 percent tariffs will start being imposed on Canada and Mexico today.
US stock market turmoil
Trump’s announcement on tariffs roiled the U.S. stock market, with the S&P 500 down 2 percent in afternoon trading Monday. It’s a sign of the political and economic risks Trump feels compelled to take given the prospect of high inflation and the possible end of decades-old trade partnerships with Mexico and Canada. Yet the Trump administration remains convinced that tariffs are the best option to boost American manufacturing and attract foreign investment. Commerce Secretary Howard Lutnick said Monday that computer chip maker TSMC has expanded its investments in the U.S. because of the prospect of separate 25 percent tariffs.
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