Washington: In a move aimed at bolstering America’s economy, US President Donald Trump has announced an immediate hike in global tariffs from 10 per cent to 15 per cent on countries worldwide.
The declaration, made via a social media post, underscores Trump’s longstanding grievance that several nations have been “taking advantage” of the US for decades.
Trump asserted that the decision falls squarely within legal bounds and has been thoroughly vetted. “This step is in response to years of unfair trade practices,” he stated in his post, linking it to his “Make America Great Again” (MAGA) campaign. He claimed previous measures have been “highly successful” and promised that the new policy would strengthen domestic industries, reduce trade deficits, and propel American manufacturing forward.
The president hinted at forthcoming “legally sound” tariffs in the coming months, expressing confidence that these actions would make America “greater than ever.” Trump reaffirmed his administration’s commitment to the MAGA mission, guaranteeing long-term benefits for the US.
Experts warn that this escalation could ripple through export-dependent economies, including India’s, potentially straining global trade. Retaliatory tariffs from affected nations might heighten tensions, they add. Markets and international partners are eagerly anticipating the next developments, despite the lack of detailed lists and timelines.
This policy shift, Trump believes, will safeguard American interests and revive its economic might amid ongoing global challenges.