Major White House Press Secretary Comments
White House Press Secretary Carolyn Leavitt recently spoke about concerns surrounding President Donald Trump's move to impose significant retaliatory tariffs on several nations, including India. She pointed out that some countries are imposing excessive tariffs on US exports.
Leavitt indicated India also charges a 150% tariff on American alcohol and other products. In her remark during a White House press briefing on Tuesday (US time), she stood by the President's position.
Trump's Position on Trade Policies
Leavitt articulated that Trump stands for equitable and transparent trade policy. She illustrated that Canada had 300% tariffs on American cheese and butter for years. In the same vein, she bemoaned India's 150% tariff on American alcohol and 100% tariff on agricultural products. Japan's 700% tariff on American rice was also showcased as a substantial trade issue.
In reaction to such imbalances, Trump has a plan to introduce reciprocal tariffs to level up trade balances.
Timeline of Tariff Deployment
President Trump validated in his last Congressional address that India's high tariffs on imports are a serious issue. Therefore, the US is going to impose retaliatory tariffs on India from April 2.
Additionally, Trump declared further tariffs on China and other countries. Although tariffs on Mexico and Canada commenced on March 4, some product exemptions will continue up to April 2.
Canada's Steel and Aluminum Tariff Increase
As part of the related action, Canada doubled its 25% steel and aluminum tariffs to 50% in the recent past. This action followed Ontario's increase in electricity tariffs.
Impact on Global Trade Decisions of Trump
The trade decisions by President Trump have raised uncertainty across global markets, generating concerns from foreign trade partners.
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