Trump announced reciprocal duties against some countries

US President Donald Trump has announced his intention to impose new retaliatory duties on imported goods starting from 2 April. He announced this while speaking before the House of Representatives and the Senate of the US Congress with a speech on the situation in the country and the priorities of domestic and foreign policy.

‘If you don't manufacture your product in America, under the Trump administration you're going to pay tariffs, and in some cases, quite significant tariffs. Other countries have used duties against us for decades, and now it's our turn to use them against them. On average, the European Union, China, Brazil, India, Mexico and Canada charge us much higher duties than we charge them. It's extremely unfair,’ Trump stated.

The president stressed that he originally wanted to set the date for the tariffs to be imposed on 1 April, but decided to move it to 2 April to avoid associations with Fool's Day. ‘I'm a very superstitious person. On 2 April, reciprocal tariffs come into effect. Whatever they impose on us, we will impose on them. It will be reciprocal: whatever they do, we will reciprocate the same,’ the American president concluded.

‘India charges us auto tariffs above 100 per cent. China's average tariff on our goods is twice as high as ours, and South Korea's is four times higher. Think about that: four times higher! And yet we give South Korea a huge amount of military and other aid. But this is exactly what they are doing to us,’ the president added.

Reprinted from https://news.am/