EXPERTS warned that US President Donald Trump’s proposal for “reciprocal tariffs” is adding uncertainty to international trade.
On Wednesday, the Trump administration raised global steel and aluminium tariffs to 25 per cent and set a 2 April deadline for implementing reciprocal tariffs — matching US tariffs on foreign goods to the rates those countries impose on US products.
This policy quickly provoked retaliation from Canada and the EU, prompting Trump to threaten a 200 per cent “counter-counter tariff” on alcoholic products from the EU on Thursday.
These developments, along with Trump’s recent “on-andoff” tariff policies towards Mexico and Canada, are the latest in a series of tariff measures announced by Trump under his so-called “Fair and Reciprocal Plan,” a presidential memorandum he signed on 13 February to address “longstanding imbalances” in global trade.
Xinhua
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