U.S. President Donald Trump stated during a speech in Congress that he aims to impose the same tariffs on imports from foreign countries that those countries impose on American exports. This was reported by UNN.
If you do not produce your goods in America, then under the Trump administration you will pay a tariff, and in some cases quite a large one.
"Other countries have used tariffs against us for decades, and now it is our turn to start using them against these countries." On average, the European Union, China, Brazil, India, Mexico, and Canada - have you heard of them? And countless other countries charge us much higher tariffs than we charge them. This is very unfair," emphasized the U.S. president.
He also pointed out that, in particular, India imposes tariffs on cars from the U.S. that exceed 100 percent. "The average tariff from China on our products is twice as high as ours. And the average tariff from South Korea is four times higher. Think about that. Four times higher. We provide South Korea with huge military and other assistance, but this is what happens. This happens between friends and enemies. This system is unfair to the United States and has never been fair.
"On April 2, mirror tariffs will come into effect, and whatever they charge us from other countries, we will charge them," said the president.
Supplement
On Tuesday, March 4, tariffs imposed by the U.S. against Canada came into effect. In response, Canada will impose a 25% tariff on American goods worth $155 billion.
In response to the recent increase in tariffs by the U.S. on Chinese imports, China announced new tariffs on agricultural products from the U.S.