WHITE House officials are preparing to impose sweeping new tariffs on most imports by 2 April, escalating US President Donald Trump’s ongoing trade war with an unprecedented move that he has called it “Liberation Day”, the Washington Post reported.
This move, which Trump calls “Liberation Day”, follows his previous increase of tariffs on about $800 billion in imports from countries like China, Mexico, and Canada. These aggressive tariffs have caused market volatility and fears of a recession.
The administration is now looking to expand these tariffs to cover trillions of dollars in imports, alarming economists and raising concerns among congres sional Republicans. Trump argues that these tariffs are necessary to bring manufacturing back to the US and to ensure fair trade practices. His “reciprocal tariff” plan aims to match tariffs imposed by other countries on American goods.
While some experts warn that matching foreign tariffs could lead to US import duties reaching levels not seen since the 1930s, the administration is debating how to categorize countries for tariff assessments.
ANI
#TheGlobalNewLightOfMyanmar