President Trump announced a 20% tariff on Jordan, designating it as a “Liberation Day” initiative to reform U.S. trade policy. He introduced “discounted reciprocal tariffs” based on foreign trade barriers, aiming for fairness in trade relations. A chart detailed various tariffs on countries, with imports from China facing a 34% tax. Future tariffs on Canada, Mexico, and imported vehicles were also outlined.
On Wednesday, President Donald Trump declared a 20 percent tariff on Jordan, characterizing the announcement as one heralding a significant “Liberation Day” in U.S. trade policy. Entitled “Make America Wealthy Again,” this initiative aims to restructure trade dynamics to promote fairness in international commerce, signaling a noteworthy shift in U.S. economic strategy.
Trump underscored that the United States plans to impose “discounted reciprocal tariffs” on partner nations in correspondence to the protective barriers and taxes these countries impose on American imports. He asserted that this initiative represents his most extensive tariff declaration thus far, designed to ensure equitable trade relations.
The computation of tariffs for each nation will utilize a “discounted” approach based on their existing tariff rates and non-tariff barriers. Trump argued this strategy would result in tariffs that are roughly half of those currently levied against U.S. goods, promoting a fairer trade landscape.
In his presentation, Trump displayed a chart indicating proposed tariff rates for several countries. For instance, imports from China would incur taxes up to 34 percent, while goods from the European Union and Vietnam would face rates of 20 and 46 percent, respectively. Notably, certain proposed tariffs surpass the original flat 20 percent he recommended during his campaign.
Additionally, Trump stated that all countries would face a baseline tariff of 10 percent. He also referenced the potential implementation of a 25 percent tariff on most goods imported from Canada and Mexico, indicating a decision that is likely to unfold within the week. To further his trade agenda, a new 25 percent tariff on imported vehicles will also be established effective immediately.
In summary, President Trump has announced a 20 percent tariff on Jordan as part of an extensive overhaul of U.S. trade policy, promoting what he refers to as “Liberation Day” for American commerce. This approach involves setting discounted reciprocal tariffs based on other countries’ trade barriers, with significant rates proposed for various nations. The implementation of these tariffs, including a substantial 25 percent tariff on imported cars, signifies a particularly aggressive strategy aimed at reshaping international trade relations.
Original Source: en.royanews.tv
