Washington DC [US], February 24 (ANI): US President Donald Trump on Monday issued a new tariff warning against countries that are ‘ripping the US off.’
Trump, despite the US ruling, said that countries that would ‘play games’ with the US will face much higher tariffs.
“Any Country that wants to “play games” with the ridiculous Supreme Court decision, especially those that have “Ripped Off” the U.S.A. for years, and even decades, will be met with a much higher Tariff, and worse, than that which they just recently agreed to. BUYER BEWARE!!! Thank you for your attention to this matter,” Trump said in a post on Truth Social.
Meanwhile, the European Union stopped the agreement of its trade deal with the US as Trump said on Saturday he would impose a global tariff of 15 per cent under a new legal authority — triggering alarm across the bloc, as per Politico.
Trump’s latest tariffs, invoked under Section 122 of the US Trade Act of 1974 and due to take effect on Tuesday, would appear to “stack” on top of any existing most-favoured-nation rate, as per Politico.
This, in the view of Brussels, would be a direct breach of the Turnberry accord and of a subsequent joint statement locking down the deal that, the EU argues, set an “all-inclusive” tariff of no more than 15 per cent on most goods.
Meanwhile, the proposed meeting of the chief negotiators of India and the US in Washingtion DC, for finalising discussions on the proposed India-US trade deal will be rescheduled, sources in the Commerce Ministry said on Sunday.
“The two sides are of the view that the proposed visit ofthe Indian Chief Negotiator and the team be scheduled after each side has had the time to evaluate the latest developments and their implications. The meeting will be rescheduled at a mutually convenient date,” sources in the Commerce Ministry told ANI. (ANI)