Key Takeaways
- US President Donald Trump has announced a reciprocal tariff policy to trading partners, where the US will charge a tariff that is similar to what other countries charge the US.
- The goal of Trump’s tariff policy is to bring fairness and prosperity to the US trade system, creating a level playing field for American workers.
- Goods routed through other countries to unfairly disadvantage the US will not be allowed under the new trade policy.
New Delhi: Continuing his aggressive stance on trade, US President Donald Trump has reiterated that America will charge reciprocal tariff to trading partners which would be ‘no more, no less’ levied by other countries.
“On Trade, I have decided, for purposes of Fairness, that I will charge a RECIPROCAL Tariff meaning, whatever Countries charge the United States of America, we will charge them – No more, no less!” Trump said in a post on ‘X’ on Monday.
“For purposes of this United States Policy, we will consider Countries that use the VAT System, which is far more punitive than a Tariff, to be similar to that of a Tariff,” he further said.
Trump emphasised that routing goods through other countries to unfairly disadvantage America will not be allowed.
“In addition, we will make provision for subsidies provided by Countries in order to take Economic advantage of the United States. Likewise, provisions will be made for Nonmonetary Tariffs and Trade Barriers that some Countries charge in order to keep our product out of their domain or, if they do not even let U.S. businesses operate. We are able to accurately determine the cost of these Nonmonetary Trade Barriers,” he stated.
He further noted, “It is fair to all, no other Country can complain and, in some cases, if a Country feels that the United States would be getting too high a Tariff, all they have to do is reduce or terminate their Tariff against us. There are no Tariffs if you manufacture or build your product in the United States.”
Trump said that for many years the US has been treated unfairly by other countries.
“This new trade policy will bring fairness and prosperity back to the US trade system. The US has helped many countries in the past, but now it’s time for them to treat us fairly. We will deliver reciprocity to our trade system, creating a level playing field for American workers.” the US president said in the post.
