Donald Trump News: US President Donald Trump is going to impose new tariffs from April 2. He is planning to tax the import of car and car parts. Trump is saying ‘Liberation Day’ on 2 April. He says that he will impose equal tax on the business partners, whose business policy does not seem right.

Earlier, Trump has also taxed the import of steel and aluminum. He has also imposed tax on goods coming from Canada, China and Mexico. Now it is indicated that he will also impose tax on countries in Asia, Europe and South America, who sell more things to America but buy less from America.

This tariff will be applicable from April 2

Donald Trump has said that he will impose 25% tariffs on motor vehicles, which will start from April 2. He told that the tariffs on the parts of the car will be applicable later. The US imports about 80 million cars every year, which costs around $ 240 billion. Apart from this, the US has also imposed 25% tariffs on imports from Canada and Mexico since March 4 and 10% tariff has been imposed on energy imports from Canada.

Other countries are also imposing tariffs

Motor vehicles and their parts are made under the Free Trade Agreement of America-Mexico and Canada, so they are kept separate from tariffs. But this is the same as long as the custom offices of America do not create a system of imposing new duty. The White House says that the purpose of imposing tariffs on Canada and Mexico is to prevent their governments from entering illegal migrants and illegally formed by entering the US.

On February 4, the US imposed a 10% tariff on goods coming from China, which was increased to 20% on March 4. However, the shipments that cost less than $ 800 have been kept separate from this tariff. In response, China has imposed 10 to 15% tariffs on US goods, including agricultural equipment. Canada has also imposed tariffs on US goods worth more than $ 40 billion in reply, while Mexico has avoided putting tariffs. Apart from this, on March 12, the US has imposed 25% tariffs on steel and aluminum coming from any country in the world.

These countries have an impact

This decision of America has affected Canada, Brazil, Mexico, South Korea, Vietnam and Japan as these countries send steel and aluminum to the US. The European Union has also decided to impose tariffs on US goods worth $ 28 billion from 1 April, including Borbon Whiskey, Motorbikes and Boat.

From March 25, the US has imposed 25% tariffs on goods coming from countries that buy oil from Venezuela. The White House says that they want to pressurize the ‘corrupt’ government of the country. According to research company Moody’s Analytics, the current tariffs are on a total of $ 1.4 trillion worth of goods. This has increased the average US tariff rate on imported goods to 10%, the highest level after World War II.

Which new tariffs will be applicable from April 2?

Trump is repeatedly saying ‘Liberation Day’ on 2 April. He wrote on social media platform Truth Social, “April 2 will be Liberation Day in America.” He said, “Every country in the world has looted us for many decades-whether they are friends or enemies. Now the time has come that America will get its honor and money back.” During the election campaign, Trump had said that 10 to 20% discount will be given in tariffs on their goods that enter America. Recently, he talked about putting a reciperook tariff and said, “They charge us, so we will also levy them.”

However, in an interview to Newsmax TV on March 24, he said that his stand could be soft about this scheme and many countries can be given relief. He said, “Some countries will be kept separate. We will levy less fees from the fee they pay on us.” According to the CNBC report, the White House has said that they can leave a plan to put tariffs on those countries who impose value added tax on their goods.
Kevin Haset, director of the US Economic Council, said, “I see that the market is hoping that big tariffs will be installed on a few countries.”

Know how the effect of tariff will be will be

The tariff will affect both America and other countries. Economists believe that imposing tariffs will increase the prices of things for American consumers and the production cost of American companies will also increase. American exporters will also be harmed by putting tariffs in response to other countries. According to Moody’s Analytics, due to tariff, America’s economy may fall by 0.6% in the coming year and will also lead to 2.5 lakh jobs. Moody’s Analytics also stated that Canada and Mexico are very dependent on the US market for their imports, so they too may have to pay a heavy price for this tariff and it will be difficult to escape the recession.