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Trump New Tarfiis: The trade war has started once again. As part of his magnitude to create pressure, President Donald Trump has announced a new tariff over business partnership countries from Japan exporting US to South Korea. These tariff rates have been kept from 25 percent to 40 percent, which will be implemented from next month i.e. August 1.
Confirming this on Monday, President Trump said that letters have been sent to many countries and warned that if business agreements are not made by August 1, then new rates of increased customs duty will be implemented.
New pressure on business countries
The first letter was sent to Japan and South Korea. After that the same notice has been sent to other 12 countries, including- South Africa, Indonesia, Thailand, Cambodia, Malaysia, Laos, Bangladesh, Myanmar, Bosnia, Serbia, Kazakhstan and Tunisia.
Talking in the White Hout later, President Trump said that the new rates of Trump have been announced, although the talks will continue with some countries.
He said that the deal with Britain, China and Vietnam has already been approved and is close to the final agreement with India. Trump said that some other countries have not shown much interest in this trade deal, so they have been sent notice without any conversation.
How much tariff is on which countries
Among the 14 countries that Trump has announced a new tariff, 25 percent of tariffs can be placed on Japan, South Korea, Malaysia, Kazakhstan and Tunisia. South Africa will be put on 30 percent, Laos and Myanmar 40 percent, Indonesia 32 percent, Bangladesh 35 percent, Thailand and Cambodia 36 percent, Bosnia and Herzegovina 30 percent.
Trump has threatened that if these countries impose retaliation, then the US will again increase the tariff accordingly. Trump’s move has once again created new uncertainty in front of markets, policy makers and businessmen. All this is happening at a time when they are already struggling with the challenges of inflation, global slow economic speed and supply chain.
Significantly, on April 2 this year, President Trump announced a heavy tariff on the countries around the world for the first time. But later, applying a brake on him, he was given three months’ time and kept the base rate of 10 percent tariff. This was to be implemented on 9 July, but now Trump has announced to implement it from 1 August.
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