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The concerns of the Ropian Union increased. A list was prepared by the European Union first that if the US would be targeted from August 1, they will also retaliate and put tariffs on American goods. But Donald Trump was on a visit to Scotland. Then news comes that the President of the European Commission met Trump in Scartland and both reached a deal.
Since Donald Trump re -handling the US presidential post, he has repeatedly warned tariffs over different countries. He believes that there has been an injustice to America for a long time. Meaning America does not put tariffs on those countries, but the rest of the countries put tariffs on American goods. In such a situation, many countries were threatened with tariffs on behalf of Trump and a deadline was also fixed for it. The deadline of 1 August is now left for counting. In such a situation, the countries with whom America’s trade deal has not yet been done can be put on heavy tariffs. India is also going to be in the grip of it and may be put on a tariff of 26 % on it. At the same time, trade deal is being done by Trump with different countries. But the biggest trade deal ever has been with the European Union. Earlier, Trump had threatened the European Union that he could impose 50 % tariff on them.
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Since then, the concerns of the European Union had increased. A list was prepared by the European Union first that if the US would be targeted from August 1, they will also retaliate and put tariffs on American goods. But Donald Trump was on a visit to Scotland. Then news comes that the President of the European Commission met Trump in Scartland and both reached a deal. President Donald Trump has described it as the biggest trade deal ever. Due to which both sides are expected to benefit from the major economic benefits. Trump has made it clear that under this deal, the US market for European countries and European markets for the US will be more open than before. However, with this, Trump also announced that a tariff of 15 % would be implemented on all areas of the European Union.
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Under this agreement, the European Union will now buy a large amount of military equipment from the United States. Apart from this, EU will also buy about $ 150 billion energy from America in the energy sector. Which will give a huge boost to the US energy industry. According to Trump, the European Union will invest $ 600 billion in the US under this deal. This is expected to give new strength to America’s economy. Despite the deal, the already implemented fee system on steel and alumunium will be maintained. That is, there will be no discount in these sectors at the moment. Trump also indicated that a new policy would be declared under section 232 for the semiconductor or chip sector in the next two weeks. Which can prove to be a game changer for this industry.
When will India’s number come?
How many times the statement has been made by Trump about the trade deal with India. But still it has not changed in reality. In an interview to Bloomberg Television, the country’s Commerce Minister Piyush Goyal said that he hoped that India would have averted the threat of 26 percent tariffs and India will reach an agreement with the US. He had told that there is no hurdle in the trade talks between the US-India. However, despite his saying so, according to the local media, the possibility of any interim agreement has decreased before 1 August.
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