Trump Unveils tariff plan targeting Trade policies worldwide

English , International - بین الاقوامی , Snippets , / Friday, February 14th, 2025

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Former U.S. President Donald Trump has announced plans to impose country-specific tariffs on nations with trade policies he deems unfair to the United States. The move is aimed at addressing trade imbalances and encouraging investment in domestic manufacturing.
Trump signed a memo instructing officials to develop a framework for “reciprocal trade and tariffs” within 180 days, considering factors such as existing tariffs, exchange rates, and trade balances. His administration has particularly criticized the European Union for policies that disadvantage U.S. exporters.
Commerce Secretary nominee Howard Lutnick confirmed that a tariff plan would be ready by April 1. Trump argued that the policy ensures fairness, stating, “If you build your product in the United States, there are no tariffs.”
The policy is expected to impact countries like India, Vietnam, and Thailand, which impose higher tariffs on U.S. goods. Ahead of a meeting with Indian Prime Minister Narendra Modi, Trump reaffirmed his stance on imposing reciprocal tariffs on Indian imports. Meanwhile, Thailand and Vietnam have begun reviewing trade terms with the U.S. in response.
The European Union has expressed a commitment to maintaining close trade ties with the U.S. but warned that it would take steps to protect its interests if necessary.
The White House also cited concerns over digital services taxes in countries like Canada and the UK, which primarily affect U.S. tech giants. The new tariff strategy marks a shift from the U.S.’s historically low tariff rates, signaling potential trade tensions in the global economy.