North India Statesman
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India News Live, Digital Desk: US President Donald Trump has sent a letter to 14 countries to clarify that if he did not make a trade agreement with the US, he will be imposed a huge import duty (import tariff) from 1 August. This warning has come at a time when Trump had already given 90 days discount to most countries in April. What is Trump’s eye? Trump is angry with the countries with which America’s trade deficit is very high. These include Japan ($ 68.5 billion surplus), South Korea ($ 66 billion), Thailand ($ 45.6 billion) and Indonesia ($ 17.9 billion). Pressure Korea is already facing heavy tax on American Steel and Car Industry. There is a tariff of up to 25%. It is now expected that the two countries will reach an agreement before August 1. The Japan is also facing 25% tariffs on its auto industry, which invests the most in the US. Trump has alleged that Japan is not opening its market properly for American rice and vehicles. Indonesia’s strategy has planned to buy more agricultural and energy products from the US to provide relief from 32% tariffs. It has signed an agreement to buy 1 million tonnes of American wheat every year for the next 5 years, which will cost around $ 1.25 billion. Relief to Kambodia, but with the conditions, Trump had asked to put 49% tariff on Cambodia in April, but now it has been reduced to 36%. Cambodia has promised to reduce tariffs on 19 American products. Nazrathailand may also face 36% charges on Thailand and Bangladesh. It has tried to compromise through Order of American agricultural produce, energy and Boeing aircraft. Bangladesh, who is the second largest textile exporter in the world, has been warned of 35% tariffs. However, it hopes that the agreement will be reached by the first week of July. Bangladesh has proposed to purchase American wheat, cotton and oil and offer Boeing aircraft orders. The location and laos of Mayanmar and Laos may face tariffs of up to 40%. These countries are largely dependent on China for investment and their supply chain is deeply connected to China.
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