President Donald Trump announced a 20 percent tariff on Jordan, labeling it part of “Liberation Day” tariffs. The initiative aims to restructure US trade policy with a focus on reciprocal tariffs. A chart presented by Trump indicates varying tariffs on multiple countries, including a 34 percent tax on China and a 25 percent tariff on imported cars, signaling a broad approach to fostering equitable trade practices.
On Wednesday, United States President Donald Trump proclaimed a 20 percent tariff on Jordan, calling it part of the “Liberation Day” tariffs. This announcement was made during an event dubbed “Make America Wealthy Again,” where Trump framed the tariffs as integral to a reformation of US trade policy and referred to it as a momentous shift towards fair trade practices.
Trump articulated that the tariffs would be calculated as “discounted reciprocal tariffs,” taking into account the total costs of the protective measures and taxes imposed by other nations on American products. He characterized this initiative as the most extensive tariff announcement of his presidency, designed to enhance fair trade principles worldwide.
The proposed tariffs will be determined at a “discounted” rate, equating to roughly half the total tariffs set by each nation against the United States. The President reiterated that this new tariff framework is intended to establish parity in trade relations with other countries, thereby achieving a more equitable economic environment.
In addition to the tariffs on Jordan, Trump shared a detailed chart that illustrated the tariff rates for various nations. Among these, products from China would incur a 34 percent tax, EU goods would face a 20 percent tax, while imports from Vietnam, Japan, and India would be subjected to 46, 24, and 26 percent taxes respectively. Many of these rates exceed the initial 20 percent tariff proposed during his campaign.
Moreover, Trump noted that a baseline tariff of 10 percent would apply to every country, which was part of the rates disclosed. He also flagged the potential imposition of a 25 percent tariff on most imports from Canada and Mexico, a decision he had put off until this week, affirming that it may soon be enacted. Adding to his aggressive trade tactics, Trump announced that a 25 percent tariff on all imported vehicles would commence at midnight, intensifying the administration’s trade policies.
In summary, President Trump has initiated a significant shift in US trade policy by imposing a 20 percent tariff on Jordan, alongside a range of tariffs on various countries as part of the new ‘Liberation Day’ tariffs. This structure aims to facilitate fairer trade practices through reciprocal tariffs, with discounts reflecting the tariffs of other nations against American goods. The detailed tariff rates presented highlight the administration’s aggressive stance on trade negotiations, impacting numerous imports.
Original Source: en.royanews.tv
