US President and tariff king Donald Trump has made another big bang. After imposing reciprocal tariffs on more than 180 countries around the world on April 2, Trump has now announced that tariffs will soon be imposed on the import of medicines.
Trump said on Tuesday that the US will soon announce a big tariff on drug imports. Speaking at a program of the National Republican Congressional Committee, Trump said that due to this tariff, pharmaceutical companies will have to set up their business in America.
104 percent tariff imposed on China
From midnight on Tuesday, the new tariff rate has come into effect on goods coming to America from all countries. Meanwhile, Trump has announced a 104 percent tariff on China. Earlier, the US had imposed a total tariff of 54 percent on China. In response, China also announced a 34 percent tariff on American goods.
This enraged Donald Trump. Meanwhile, Trump on Tuesday accused China of manipulating its currency to avoid American tariffs. Trump said that you will have to answer them. They are manipulating their currency today to reduce the impact of tariffs.
70 countries engaged in talks
The Trump administration has imposed a 26 percent tariff on Indian goods. The Trump administration says that talks are going on with 70 countries on the issue of trade. There is an effort to agree on a custom-made deal with every country.
Trump spoke to many leaders.
Donald Trump spoke to Japanese Prime Minister Shigeru Ishiba on Monday and met Israeli PM Benjamin Netanyahu. Apart from this, he also spoke to South Korea's acting President Han Duck-soo. America is upset that China decided to impose retaliatory tariffs instead of talks, while President Trump is ready to pick up the phone at all times.
India-US Trade Deal may be sealed this month, will it no longer be affected by Trump's tariffs?
India and the US are working hard to finalise a beneficial trade deal by the end of this month.
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