The world will solidify for the announcement of US President Donald Trump about sweeping tariffs on the “Liberation Day” Day – April 2. Recipient tariffs could support the global trading system and shake financial markets.
The tariffs aimed at strengthening American production could have the main consequences for society earnings, global economics, inflation and monetary policy of the Federal Reserve System.
“Day of liberation” and tariffs
For weeks Trump Trump, on April 2, as “Liberation Day” and the White House spokesman Karoline Leavitt stated on Tuesday that mutual tariffs on countries imposing obligations on US goods would come into force immediately after Trump’s announcement.
Trump assumes that the “day of liberation” as a public holiday refers to a break of America from dependence on imported goods.
Trump tariffs:
The new tariff policy includes 25 % of car imports, which would significantly affect countries such as Germany, Mexico and Canada.
JP Morgan estimates that 25 percent tariffs would increase new car prices by $ 4,000.
President Trump claimed that the step was necessary to raise money and encourage domestic production.
The tariff measures are expected to generate approximately $ 600 billion a year for further US revenues.
The US President has long claimed that the deficit reflects “unfair” practices from US business partners.
After decades of production of the factory, it is considered overseas to be a sign of weakness in the American economy.
He also used them as a bargaining tool to extract concessions from US business partners.
Concerns about the impact of the escalating global trade wars with the largest economy in the world and a number of weaker than the expected data from the US raised recession concerns and undermined the dollar this year.
Tarifs are taxes from borders that are charged for foreign imports. Importers apply tariffs when entering the Earth’s customs agency or block that selects them.
Obligations are usually charged as a percentage of the product value.
Impact on India
Representatives of the Indian industry and government officials are not allegedly uncertain whether the President Trump will continue to introduce mutual tariffs on his key business partners.
The government official told PTI that the domestic industry is “paranoid” and communicates with the government and is looking for protection against the impact of these tariffs.
Interested parties hope that America can postpone its decision to store mutual tariffs because India is one of the few countries with which the US has decided to negotiate a business agreement.
(Tagstotranslate) Trump’s tariffs
