Donald Trump to sign an order on mutual tariffs before PM Modi’s visit: White House – The Times of India

US President Donald Trump plans to announce Mutual tariff Next to Prime Minister Narendra Modi’s visit to America, the White House said.
White House press secretary Karolin Lewit told reporters that he believes that Trump’s tariff scheme could be announced before meeting with PM Modi on Thursday.
PM Modi is set to reach us on Thursday and trade and tariff are likely to become one of the major issues he will discuss. Trump’s announcement to implement 25 percent tariff on steel and aluminum has already scared Indian vendors and this new plan can only give fever to manufacturers and distributors.
The AFP said that Trump pledged on Wednesday to start a “mutual tariff” on other countries, indicating that he can sign an executive order within 24 hours, potentially increasing international trade stress, AFP told.
During his campaign, Trump said: “An eye for one eye, a tariff for a tariff, the same exact amount.”
Experts suggest that these mutual measures will include adjusting the American import tariffs to match those engaged by countries exporting on American goods.
In an oval office statement on Wednesday, Trump indicated that he could authorize mutual duties that day or Thursday morning.
Economic experts have warned that such measures can result in an increase in widespread tariffs affecting developing economies such as India and Thailand.
Trump has implemented extensive tariffs on business partners since taking office on 20 January.
A White House official told AFP on Wednesday that the proposal of 25 percent of duties on Trump’s steel and aluminum imports would be additional for the current tariff on Canada and Mexico.
In early February, Trump announced a wide tariff of 25 percent on Canadian and Mexican products, with Canadian energy imports facing a low rate of 10 percent.
However, he later suspended these blanket tariffs on neighboring countries for a month after he was committed to addressing illegal immigration and fantanel smuggling.
According to the anonymous official, if these tariffs resume after a 30-day period, duties on Canadian and Mexican steel and aluminum can reach 50 percent.
While a visit to Washington with provincial leaders, Canadian Finance Minister Dominic Labbank told reporters on Wednesday that Ottawa would wait for the US tariff decision.
“We have several weeks to work together, and President Trump’s words were very accurate to make an economic deal with Canada,” Lablink said during meetings with US officials, in which Kevin, director of the National Economic Council, Kevin, said Haset and Commerce Secretary Nominee Howard Lutnik.