President Donald Trump announced a 20% tariff on Jordan during his “Liberation Day” speech, aiming to restructure US trade policy. The tariffs are part of a broader initiative to establish fairer trade practices, with specific rates for various countries. Trump’s approach includes a base 10% tariff for all nations and highlights an aggressive trade strategy.
On Wednesday, United States President Donald Trump declared a 20 percent tariff on Jordan, coining this announcement as part of his “Liberation Day” tariffs. This initiative is part of a broader effort to reshape US trade policy, which Trump framed as a significant move towards economic rejuvenation, termed “Make America Wealthy Again.”
Trump outlined that the tariffs will reflect a method of “discounted reciprocal tariffs,” tailored to the total cost of protective measures and taxes that US goods face in other nations. He emphasized that this represents his most comprehensive tariff strategy to date, aiming to establish fairer trading conditions.
Notably, the tariff rates for various countries were illustrated on a chart Trump presented. Chinese imports would incur a 34 percent tax, followed by a 20 percent tariff on European goods. Furthermore, Vietnamese goods would face a 46 percent rate, Japanese imports a 24 percent tax, and Indian products a 26 percent tax, with some of these figures surpassing previous proposals from his campaign.
Trump also established a base 10 percent tariff for all countries and spoke about the potential implementation of a 25 percent taxation on imports from Canada and Mexico, a decision previously postponed but expected to take effect imminently. Additionally, he confirmed that a 25 percent tariff on all imported vehicles will commence at midnight, intensifying his administration’s aggressive trade policy.
In summary, President Trump’s recent announcement of a 20 percent tariff on Jordan, along with other tariff adjustments, reflects a significant shift in US trade policy. The introduction of these tariffs, defined as “Liberation Day” tariffs, aims to encourage fairer trading practices and is part of a broader initiative encompassing various countries. This comprehensive strategy seeks to recalibrate the economic relationship between the United States and its trading partners.
Original Source: en.royanews.tv
