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News Topical, Digital Desk : America has clearly warned its trading partner countries that if they do not enter into a trade agreement by July 9, then heavy tariffs will be imposed on them from August 1.
Treasury Secretary Scott Bessant said the decision was already decided and will now be implemented. Former US President Donald Trump had announced tariffs in April, but it was postponed for some time for negotiations.
Tariffs will be applicable from August 1
- In April, Trump had talked about imposing 10% tariff on almost all countries.
- He postponed it and gave time till July 9 so that the countries could reach a mutual agreement.
- Now the Trump administration is saying the tariffs will come back “like a boomerang” starting August 1.
Agreements with some countries
America has so far signed trade agreements with Britain and Vietnam. It has been decided to temporarily reduce tariffs with China. Talks are on with France and the European Union, and an agreement is expected soon.
Letters are being sent to a dozen countries
- Letters are being sent to 12 countries so that they can take the final decision.
- Many big agreements may be announced before August.
- Japan and BRICS countries have opposed the tariff policy.
pressure tactics
According to CNN, the Trump administration said that this is a policy of 'maximum pressure'. Trump said that every country will be told how much duty it will have to pay for trading with America. On this, the Prime Minister of Japan said, "We will not compromise easily."
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