By Admin 
Trump Tariff: US President Donald Trump has imposed tariffs on the goods that are imported in America i.e. other countries from other countries. He says that this will promote manufacturing in America and create employment. While critics say that due to tariffs, the prices of things in America will increase, which will damage the economy.
What is tariff?
Tariff means tax imposed on foreign goods and services. Under this, when the company selling goods crosses the border, it pays this tax to the government of another country as a tariff. This makes the goods imported from abroad expensive, while the government makes profit from tax. America has imposed 50 percent tariff on India. That is, if someone is being sold in India for 100 rupees, then he will now sell in America for 150 rupees with tariffs. It is clear that additional 50 rupees to be charged as tariffs will be added to the treasury of the US government. Its entire pressure will be on common American citizens and companies there.
Crisis on foreign goods
When foreign products are cheap, more and more customers buy it. At the same time, when foreign goods become expensive due to tariffs, people give priority to the goods made in their country. It accelerates local manufacturing. In such a situation, many times local companies also decide to import less goods. Trump says that tariffs will increase the government’s earnings in the form of tax, consumers will be encouraged to buy more American -made goods and will boost investment in America.
Because of this, Trump imposed tariff
Trump wants to reduce America’s trade deficit – the difference between the goods purchased from other countries and the value of the goods sold to them. Trump says that other countries have exploited America, foreigners have looted it. Trump had said, “Our country has been looted by other countries. American taxpayers are being looted for more than 50 years, but now this is not going to happen. I am signing a historical executive order imposing reciperook tariffs on countries around the world. The reciperook, this means that we will do with them as they are doing with us. “
In the same sequence, announcing the tariff against China, Mexico and Canada, Trump said that these countries should make more efforts to prevent the reach of migrants and illegal drugs in the US. He has also threatened to impose tariffs on countries doing business with Russia, until there is no agreement towards ending the ongoing war in Ukraine.
However, since the announcement of tariffs, many times they have been changed or postponed them for some time. Trump’s tariff has also faced many legal challenges. In August, an American court while giving its verdict said that most of the tariffs imposed by Trump are illegal.
Trump’s tariff imposed on different countries
- 50 percent tariff on Indian goods – including 25 percent fine on trade with Russia.
- 50 percent tariff on Brazilian items
- 30 percent tariff on South African items
- 20 percent tariff on Vietnamese items
- 15 percent tariff on Japanese items
- 15 percent tariff on South Korean items
China and the US had threatened to put more than 100 % tariffs on each other’s goods. However, both have agreed to extend their trade ceasefire by 10 November.
Canada has a tariff up to 35 percent. Currently, talks are going on between the two. America is also continuing its conversation. Canadian Prime Minister Mark Carney said that his country will remove some ventilative fees for the free trade deal of most of the goods.
Mexico has been given a discount of 30 percent or more by the end of October to get time for the agreement.
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