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US President Donald Trump on Wednesday announced a tariff on 6 more countries from August 1. These countries include Philippines, Brunei, Algeria, Moldova, Iraq and Libya.
Trump shared the details of the tariff in the official letter sent to the leaders of these countries. The highest 30% tariff was imposed on Iraq, Algeria and Libya.
At the same time, 25-25% tax imposed on the Philippines, Brunei and Moldova. Trump’s announcement has been made a day after the announcement of tariffs on 14 countries including South Korea and Japan.
Trump imposed tariffs on 14 countries, will be applicable from 1 August
Trump on Monday announced to increase the tariff on 14 countries, including Bangladesh-Japan. The Trump administration on Monday informed all the affected countries and informed about this decision by sending a letter.
Under this decision, some countries were levied 25% tax, while some were levied a heavy duty ranging from 30% to 40%. Trump first sent a letter to the leaders of South Korea and Japan and said that the goods coming from his country will now be charged 25%.
He wrote that these taxes are necessary so that the imbalance in trade between the US and these countries can be improved. These tariffs will be applicable from August 1. Along with this, Trump announced the installation of global tariffs from 1 August. The first Trump was to announce it on 9 July. Read the full news here …
Trump said- There was no inflation in my first term
Trump yesterday lashed out at previous governments and said that America suffered damage. Trump said, “Hundreds of billion dollars of tariffs gathered in my first term.” There was no inflation then, it was the most successful economic time in the country.
I think this time will be better. We have not even started yet and tariffs of more than $ 100 billion have gathered. Some countries want fair trade, some have deteriorated. He has taken advantage of America for years.
If America had a fool as a foolish president last time, then your standard would have fallen, there would not be dollar here. This will be like losing a world war. I cannot let this happen. ‘
There may be a trade agreement with India
Trump also talked about a trade agreement with India yesterday. This agreement can be made during this month or during Trump’s visit to India. Under this agreement, the two countries want to bring mutual trade to $ 500 billion by 2030.
This will not include sectors like farming and dairy. The US wants less tariffs on its agricultural products, medical equipment and industrial products, while India wants better opportunities for textile exports.
