US Tariff War: US President Donald Trump has teased tariff war, but he is constantly seen taking U-turn. On April 2, he put a tariff on all countries and described that day as Liberation Day, but on 9 April, he posted his decision on 9 April. He has imposed 125 percent heavy duty on China. Since then, many countries have been thinking about doing business from America.

In the midst of all this, after reducing some charges from President Donald Trump, the Economic Advisor of the White House Kevin Haset said on Thursday that the US is considering the proposals of 15 countries on tariff agreements and some of them are close to compromise. “USTR has informed us that there are now 15 countries that we have been studying and considering and deciding whether they are sufficient to present the President,” Haset told reporters at the White House.

90 days ban on increase in tariff

The global stock markets on Thursday saw a dramatic rise in the global stock markets after US President Donald Trump announced a 90 -day ban on a huge increase in tariffs. However, China was excluded from this ban. The move raged in investors in Asia and Europe, while there was uncertainty on the situation of Beijing.

What did WTO say on tariff war?

The World Trade Organization (WTO) has feared a serious damage to the global economic scenario between the growing trade tension between the US and China. WTO Director General Nagoji Okonzo-Ewela said that the negative comprehensive economic impact of this global trade uncertainty will not be limited to the US and China only but will also see their impact to other economies, especially the least developed countries. The trade between the US and China in the world trade is about three percent. This shows that any kind of stress in the trade relations between the two countries can cause major losses for global trade.

In the last few days, two top economies of the world are continuously levying each other, due to which the trade war is deepening. While the US has announced a fee of 125 percent on China, China has said to impose 84 percent fee on it.

Also read: China said on the tariff war- ‘The path will not come out of threats and blackmail’; Trump praised Jinping, said- ‘She smart’