US President Donald Trump on Wednesday asked other countries to announce a “mutual tariff”, saying that he can sign an order for him within a day, a step that new fronts in a business war Can open
During the election campaign, Trump promised: “One eye for one eye, a tariff for a tariff, the same accurate amount.”
Analysts hope that mutual duties include hiking rates on American imports to match US products that charge on American products.
Speaking at the Oval Office on Wednesday, Trump said that he could sign an order for mutual duties during the day or on Thursday morning.
Analysts have warned that such levy may bring a wide tariff increase in emerging market economies such as India and Thailand.
Earlier on Wednesday, White House Press Secretary Karolin Levit told reporters that he believes that Trump’s tariff scheme could be announced before meeting Indian Prime Minister Narendra Modi on Thursday.
Since taking over on 20 January, Trump has unveiled a wide levy on American business partners.
On Wednesday, a White House official told the AFP that 25 percent tariffs were planned on Trump’s steel and aluminum imports, which would be at the top of the heavy duties declared earlier on Canada and Mexico.
Trump unveiled a 25 percent sweeping tariff on Canadian and Mexican goods in early February, with a lower rate of 10 percent on Canadian energy imports.
But shortly after that announcement, he stopped the blanket levy on the immediate neighbors of the United States for a month as the two countries vowed to implement measures against illegal immigration and phentanel smuggling.
If those tariffs are re-prepared at the end of the 30-day time limit, levy on Canadian and Mexican steel and aluminum can reach 50 percent, the official said, saying, speaking on the condition of anonymity.
Canadian Finance Minister Dominic Labtle, who is in Washington with Canadian Provincial leaders, told reporters on Wednesday that Otawa Tariff will not be further further than the US decision.
“We have several weeks to work together, and the words of President Trump were very accurate to make an economic deal with Canada,” Labbank said, which National Economic Council Director Kevin Haset and Commerce Secretary Nominee Howard Lutniknik Meeting American policy makers including.
Manitoba’s premiere Wab Curte in western Canada said that they have important minerals in the country that can help in the American economy.
Mexican President Claudia Shinbam separately stated that Economy Minister Marsello Ebard is interacting with his expected American counterpart.
While the conversation between North American trade parties continued, Trump signed separate orders from March 12 to impose 25 percent tariff on steel and aluminum imports.
(Except for the headline, the story has not been edited by NDTV employees and is published by a syndicated feed.)
