Trade War Heats Up: Trump to Unleash Hard-Hitting Tariffs on Cars, Semiconductors, and More!
US President Donald Trump announced on Wednesday that he will impose tariffs on a number of products next month or sooner. According to Reuters, he plans to announce tariffs on lumber, cars, semiconductors, and pharmaceuticals.
Donald Trump made the announcement at a conference in Miami, Florida, without providing any additional information. “I’m going to be announcing tariffs on cars and semiconductors and chips and pharmaceuticals, drugs and pharmaceuticals and lumber, probably and some other things over the next month or sooner,” Reuters reported that President Trump had said.
The announcement comes as Donald Trump completes nearly one month of his second term in the White House.
Since his inauguration as the 47th President of the United States on January 20, Trump has issued a number of executive orders and taken a firm stance on tariffs, as he promised during his presidential campaign.
Within a month, he imposed several tariffs and repeatedly threatened to impose duties on imported goods. During several public appearances, Donald Trump has stated unequivocally that he wants to reform global trade, particularly in favour of the US.
According to the report, Trump’s tariff announcements range from broad ones, such as a universal tariff on foreign-imported goods, to specific sectors or countries, in order to persuade others to comply with his policies.
What Trump told PM Modi
At a recent meeting with Prime Minister Narendra Modi in the United States, Trump stated that he informed him that reciprocal tariffs would be imposed on India, citing India’s high tariffs on US goods.
Recalling his negotiations with Modi, Trump stated, “I said, ‘Here is what we are going to do: reciprocal.'” “Whatever you charge, I charge.” To which Trump responded that Modi objected. However, Trump claimed to have responded by saying, “No, no, whatever you charge, I will charge.” I’m doing it with every country.”
