'I probably will tell you that on April 2, but it'll be in the neighborhood of 25 per cent,' Trump told reporters at his Mar-a-Lago club when asked about his plan for auto tariffs
President Donald Trump is taking a blowtorch to the rules that have governed world trade for decades. The reciprocal' tariffs that he announced Thursday are likely to create chaos for global businesses and conflict with America's allies and adversaries alike. Since the 1960s, tariffs or import taxes have emerged from negotiations between dozens of countries. Trump wants to seize the process. Obviously, it disrupts the way that things have been done for a very long time,' said Richard Mojica, a trade attorney at Miller & Chevalier. Trump is throwing that out the window ... Clearly this is ripping up trade. There are going to have to be adjustments all over the place.' Pointing to America's massive and persistent trade deficits not since 1975 has the U.S. sold the rest of the world more than it's bought -- Trump charges that the playing field is tilted against US companies. A big reason for that, he and his advisers say, is because other countries usually tax American exports at .
Earlier in January, Trump threatened to impose tariffs on Brics nations if they try to introduce alternative currency to the US Dollar
The plans drew condemnation from Mexico, Canada and the European Union, while Japan and Australia said they were seeking exemptions from the duties
Trump's tariffs deliver on a threat to punish the three countries for what he says is a failure to prevent the flow of undocumented migrants and illegal drugs
Trump's proposals for tariffs of 10 per cent to 20 per cent on all imports and a 60 per cent or more tariff on goods from China have added to retailers' anxiety
US President Joe Biden has imposed heavy tariffs on Chinese electric vehicles, batteries, steel, solar cells, and aluminium, saying it would ensure that American workers are not held back by unfair trade practices. These include a 100 per cent tariff on electric vehicles, a 50 per cent tariff on semiconductors, and a 25 per cent tariff each on electric vehicle batteries from China. In his address to the nation from the Rose Garden of the White House, Biden said America can continue to buy any kind of car they want, but we're never going to allow China to unfairly control the market for these cars. Period. I want fair competition with China, not conflict. We are in a stronger position to win that economic competition of the 21st century against China than anyone else because we're investing in America again, he said. Biden alleged that for years, the Chinese government has poured state money into Chinese companies across a whole range of industries: steel and aluminium, ...
China's finance ministry said in a statement that tariff reductions for the relevant goods, which were implemented on Sept. 1, will take effect from 0501 GMT on Feb. 14
South Korea's exemption from tariffs is permanent because it agreed to quotas as part of a new trade deal
US-India bilateral meeting on April 11 to settle trade disputes
Donald Trump said that "trade war is good and easy to win"
Trump's policies and disparaging remarks about immigrants have forced other countries to help each other out and look for alternatives among themselves
The tariffs are due to start in 15 days and initially exempt Canada and Mexico
Trump's comments have sparked cries of foul play from US trading partners and warnings from US lawmakers and businesses