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US President Donald Trump announced tariffs on countries around the world, including India, on April 2. But Trump's move has created turmoil in the US market. Selling in the market and resentment among corporate Americans is increasing. It is believed that Trump's announcement may lead to recession in the US and other countries.
Donald Trump has changed his tune after the negative impact of tariffs on the American market. He is now in touch with India, Israel and Vietnam. Trump wants to resolve the issue with these three countries before the deadline for imposing tariffs.
Trump got angry when China imposed retaliatory tariffs
America has imposed a 34 percent tariff on China. In response, China has also announced a 34 percent tariff on American goods. Donald Trump criticized Beijing and said that China is scared due to the 34 percent tariff on Chinese goods. Let us tell you that America has already imposed a 20 percent tariff on China. Now the total tariff on China has become 54 percent.
Now the Trump administration wants to negotiate
The Trump administration first imposed tariffs on many countries. Now it is also willing to talk to those countries. The US administration says that instead of panicking, the countries trapped in tariffs should pick up the phone. On a social media post, Trump wrote that Vietnam's Communist Party General Secretary To Lam has made a proposal that if a mutual agreement is reached, they will reduce their tariffs to zero.
Trump engaged in talks
According to CNN's report, some countries are engaged in negotiating tariffs. A senior adviser told CNN that Trump is actively negotiating special trade deals with Vietnam, India and Israel before the new tariff deadline. If both sides reach an agreement, a new path may open.
Donald Trump imposed a 27 percent tariff on India. However, he had mentioned a tariff rate of 26 percent during a briefing at the White House.
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