DURING DONAALD Trump’s Tenure, Strint Tariffs Were Imposed on Brazil and Sri Lanka, Challenges in Global Trade Had Increased

News India Live, Digital Desk: US Trade Policy: During the tenure of former US President Donald Trump, several major decisions were taken regarding trade under his ‘US First’ policy, which affected the global trading environment. In this series, he announced to impose significant duty on some imports from Brazil and Sri Lanka.

The then Trump administration had announced that an additional fee (tariff) would be imposed on some products coming from Brazil and 30 percent on some goods coming from Sri Lanka. These decisions were often based on the argument to protect domestic industries and to protect American companies from allegedly inappropriate trading practices. In the case of Brazil, he was often accused of selling (dumping) of manipulation in currency or at unfair prices in American markets, while Sri Lanka could also include similar allegations or violations of special business conditions.

All these new tariffs were effective from August 1, after which there was a possibility of significant increase in costs for exporters of these countries and importers of goods in the US. The purpose of these steps of Trump was to protect the interests of American manufacturers and workers, but often he caused tension in business relations with the respective countries and influenced the global supply chains. Due to such fees, the prices of products could have increased and it was natural to have a direct impact on consumers.