US President Donald Trump바카라™s inaugural Congress address in his second presidential term saw him going heavy on tariffs on trade partners. Trump slammed the European Union, India, Mexico and Brazil and added that many other nations also have trade policies that are unfair to Americans. "This is happening by friend and foe," he said, adding that April 2 is when "reciprocal tariffs kick in". "Whatever they tax us, we will tax them," he says. The US has historically charged lower tariffs than those levied by many of its trading partners.
"We will take in trillions and trillions of dollars and create jobs like we have never seen before," he said adding that. "We've been ripped off for decades by every country on Earth, and we will not let that happen any longer."
Tariff And Trade War
President Trump launched a trade war against Canada, Mexico and China, the US's three biggest trading partners, drawing immediate retaliation and sending financial markets into a frenzy.
Just after midnight, Trump imposed 25 per cent taxes, or tariffs, on Mexican and Canadian imports, though he limited the levy to 10 per cent on Canadian energy. Trump also doubled the tariff he slapped last month on Chinese products to 20 per cent.
The impact of Trump바카라™s call was seen on stock markets across the globe. Markets lost billions and are likely to remain in the fear stage. The US stocks tumbled sharply in late afternoon trading, while the Mexican peso and Canadian dollar also fell.
