The US President said that the nation has successfully countered the onslaught of Tariffs used against it.
New York: US President Donald Trump has said that tariffs were making “America great and rich again,” after he imposed fresh tariffs ahead of the August 1 deadline. In a post on Truth Social, Trump claimed that tariffs had been used against the US for decades. “Coupled with really dumb, pathetic, and crooked politicians, (the tariffs) were having a devastating impact on the future, and even the survival, of our country,” he said.
He added that the “tide has completely turned” and that the US had successfully countered the “onslaught of tariffs against it”. "One year ago, America was a dead country. Now it is the ‘hottest’ country anywhere in the world,” he wrote on X.
He also linked his tariff strategy to a major legal battle, likely referencing one of the many court cases he or his team is involved in. “If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE ‘DEAD,’” he wrote, cheering on his legal team, "who have fought so hard to save our Country.”
Trump announced his tariff plan in April, sending chaos rippling through the world economy. But he paused them so countries could negotiate new trade deals. On Truth Social, the US president hits out at Canada and India and casts doubt on their trade relationships with the US.
He has announced a new trade deal with South Korea, which calls for 15 per cent tariffs on goods from there, after the country scrambled to secure an agreement ahead of the Friday deadline. “The Deal is that South Korea will give to the United States $350 billion for Investments owned and controlled by the United States, and selected by myself,” he said in a Truth Social post.
Over the last few weeks, President Trump announced tariff rates ranging broadly from 15 per cent (for Japan and the EU) to 20 per cent (for Vietnam, Indonesia and the Philippines).
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India can still seal a deal The latest move by Trump to slap 25 per cent tariffs on India can actually be a starting point for renewed negotiation, and the Indian government's response to staying committed to the negotiations speaks to that, HSBC Global Research said. The US-India trade deal had already reached advanced stages, but for some sticking points, such as the US demanding access to sectors such as agriculture, dairy, and genetically modified feed, which India was reluctant to give, given its large population dependent on agricultural income, according to reports. New Delhi said it has taken note of Trump’s decision to impose a 25 per cent tariff on India’s exports starting Friday. The Commerce Ministry said in a statement that India and the US have been engaged in negotiations on concluding a fair, balanced, and mutually beneficial bilateral trade agreement over the last few months. |
