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There has been debate over how Trump’s tariffs are often driven by various personal reasons, and not just economic ones. Trump skipped announcing the tariffs on Brazil via the letter, specifically tying the new tariffs to Bolsonaro’s ongoing trial.
United States President Donald Trump on Wednesday (July 9) announced 50% tariffs on the imports of copper in the US. Trump has also threatened to impose 200% tariffs on the imports of pharmaceuticals after a year.
Brazilian President Luiz Inacio Lula da Silva on Wednesday (local time) warned of retaliation and condemned “tutelage” after United States President Donald Trump announced a steep 50 per cent tariff on “any and all” imports from Brazil. The move, widely seen as linked to Trump’s continued support for coup-accused former Brazilian president Jair Bolsonaro, has triggered a diplomatic standoff between the two countries.
US President Donald Trump on Thursday signalled strong support for a sanctions bill aimed at pressuring Russian President Vladimir Putin to end the ongoing war in Ukraine.
US President Donald Trump on Monday issued a warning for BRICS member countries, saying that any nation that aligns itself with ‘anti-American’ policies of the bloc will face an additional tariff of 10%
Finance minister Nirmala Sitharaman on Tuesday rebutted the label of “tariff king” often used by US President Donald Trump for India, and said the country’s effective tariff rates are far lower than they appear.
The WTO Director-General Ngozi Okonjo-Iweala views the upcoming discussions between American and Chinese officials as a positive development towards reducing trade tensions, according to a statement released on Friday.
As India gets cracking on working on a trade deal with United States, Finance Secretary Ajay Seth on Wednesday said that he expects the direct impact of US tariffs on Indian GDP growth to be around 0.2 to 0.5 percentage points.
Ruchir Sharma, economist and chairman of Rockefeller International, believes that distrust between India and China has to soften a bit amid trade tension caused by the US. “One thing which I think India has to do also is this distrust with China has to ease a bit,” Sharma said in an exclusive interview with Business Today Executive Director Rahul Kanwal.
US President Donald Trump said in an interview with Fox News that there is a “real chance” revenue generated from tariffs could eventually replace the income tax system in the United States. Drawing on historical precedent, Trump argued that between 1870 and 1913, tariffs served as the primary source of government revenue and coincided with a period when the nation was “relatively the richest”.