US President Donald Trump has threatened to impose 10% additional tariffs on countries that support the anti -US policies of the BRICS Group. At the same time, Trump issued a letter related to tariffs to Japan and South Korea. It put 25% tariff on both countries. This will be applicable from 1st August. Trump gave information about the tariff to be implemented from August 1 by posting a letter on Truth social. It also warned Japan and South Korea not to retaliate to increase their tax. By doing this, the US will increase tax on imported things. This may cause damage to the auto and electronics sector of Japan and South Korea.
Indian exporters will get relief from extending the US counter -duty suspension to August 1. At the same time, India and America will get additional time to resolve the pending issues to finalize the interim trade agreement. The Trump administration on Monday sent ‘letters’ to various countries that details the fees levied by the US on the products of those countries. However, India was not included in these countries. Bangladesh, Bosnia & Hergegovina, Cambodia, Indonesia, Japan, Kazakhstan, Lao People’s Democratic Republic, Malaysia, Serbia, South Africa, South Korea, Thailand and Tunisia have been sent letters signed by Trump.
Trump has made a big statement on India. He said that we have dealt with the United Kingdom. Is also a deal with China. The deal with India is very close. The message is very straightforward that the US is angry with the rest of the countries except India. The US has sent a tariff letter to 14 countries. In which it was clearly stated that if there is no talks, then heavy tax will be implemented from August 1. These countries include Bangladesh, South Korea, Thailand, Japan and 10 other countries which are considered to be the major trade partners of the US. But India is not in this list.