When US President Donald Trump revealed a chart with revised tariffs on Wednesday for his main business partners, including India, China and the European Union, it caused confusion between the countries in question.
According to the Annex Document, India was mentioned at 27 %rather than 26 percent, which were previously listed.
The reciprocal rates of tariffs varied for at least 14 nations from countries on graphs introduced by Donald Trump, Bloomberg reported quoting the White House.
More than a dozen countries will face slightly higher tariffs than previously expected, according to Bloomberg report.
Trump, which held a chart of large measures in the White House Rose Garden, called it “our statement of economic independence”.
“For decades, our country has been plundered, plundered, raped and looted by loved ones and far, both by a friend and an enemy,” Trump said.
Trump’s mutual tariffs
According to the Annex Document, while the Indian tariff rate varied by one percent, South Korea was 26 % instead of 25 %.
Other countries whose levels were different are Botswana, Cameroon, Malawi, Nicaragua, Norway, Pakistan, Philippines, Serbia, South Africa, Thailand, Vanuatu and Falkland Islands.
As part of the Executive Order issued by Trump Administration, tariffs start for all US business partners to 10 percent from April 5, and four days later, rates would rise to levels as stated in the Annex.
The rates of tariffs for overseas territories also varied from their mother nations.
Saint Pierre and Miquelon, a French archipelago near Canada and the Australian territory of Norfolk Island, were left from the tariffs.
Similarly, the French overseas meeting, the island in the Indian Ocean between Mauritius and Madagascar, was selected at 37 percent in mutual tariff charts, but was not included in a formal attachment.
Retaliation
American business partners on Thursday promised to hit President Trump’s global tariffs, but left the door open.
On his “day of liberation”, he saved almost no nation, hit friends and enemies, and reserved some of the harshest tariffs for main business partners, including the European Union and China.
China promised “countermeasures”, while France and Germany warned that the EU could impose a tax on US technology companies operating in Europe.
EU chief Ursula von der Leyen promised that Europe was “ready to respond” to tariffs and call them a “big blow of the world economy”.
(Tagstotranslate) Trump tariffs
